XRP Price Analysis: SEC Appeal Likely? Legal Experts Weigh In on Ripple Case
Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...
The XRP price fallen by 3% in the past 24 hours, slipping to $0.6288 on a day when the crypto market as a whole has fallen by 1.5%.
XRP remains up by 7% in a week and by 12% in a month, with the alt also managing a 20% increase in the past year.
Yet the past few days have seen several pronouncements from legal experts on the likelihood of an SEC appeal against rulings in its case with Ripple.
Some attorneys are now suggesting that an appeal is likelier than not, although with no clear timeframe or indication that the SEC will act, the XRP price is likely to continue its ascent for the rest of the year.
Lawyer Fred Rispoli tweeted over the weekend that he thinks there’s a 60/40 chance that the SEC will appeal July 2023’s ruling.
In particular, he believes that the SEC will take issue with the court’s ruling that so-called programmatic sales of XRP (by Ripple) were not investment contracts.
His reasoning is that it would set an unfortunate precedent for the SEC’s remaining cases with other cryptocurrency firms and issuers, one which the regulator would prefer to block.
I'm 60/40 rn in favor of seeing an SEC notice of appeal but the stakes are really high for the SEC. Letting it slide (no appeal) means that "programmatic sales" is a one-off loss that literally only applies to Ripple's secondary sales and is a distinguishable SDNY loss for the… https://t.co/nIr4vcl0BZ
Rispoli was responding to an earlier tweet from noted crypto-friendly attorney Jeremy Hogan, who himself was tweeting in response to a report that one source (formerly) at
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