Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
XRP Price Soars Despite Looming SEC Appeal

XRP Price Soars Despite Looming SEC Appeal

CoineditionCoinedition2024/09/30 16:00
By:Coin Edition
  • The SEC may appeal the Ripple ruling, challenging the classification of XRP as a non-security.  
  • The appeals process could take 10 to 11 months, possibly extending until 2025 or 2026.  
  • XRP’s price recently rose to $0.62, with analysts predicting it could reach $1 amid renewed interest.  

The SEC is expected to appeal the recent court ruling that XRP is not a security, according to legal experts. This comes after District Judge Analisa Torres ruled in favor of Ripple in July 2023.  Despite the uncertainty, XRP has surged in value, climbing around 12.50% in over a month and is right now around $0.62 .

Legal experts say the SEC’s appeal would challenge the application of the Howey test, which determines whether a transaction is an investment contract. Former SEC enforcement attorney Marc Powers said the SEC likely wants to avoid inconsistent rulings in district courts. He also stressed that the SEC is likely to appeal because the case involves programmatic trading .

SEC Appeal Process May Drag On

Former SEC lawyer Marc Fagel clarified that the Court of Appeals must hear the SEC’s appeal . He explained that the process usually takes 10 to 11 months. The $125 million penalty imposed on Ripple will not be the main issue of the appeal. Ripple could cross-appeal this aspect, but Fagel said it is unlikely to succeed.

Read also : Ripple CTO Questions Evernode’s New Token Plan for XRPL, Warns of Network Fee Hikes

Attorney Fred Rispoli predicted the appeals process could drag on until at least 2025 or 2026. The court will set a schedule for briefs by late 2024, with a decision expected in 2026. Despite these legal uncertainties, XRP has recently surged in value.

The XRP price has climbed to around $0.62, driven by increased trading activity. Analysts remain optimistic, suggesting XRP could rise further, possibly reaching $1.

As the legal battle continues, Ripple supporters wonder if the appeal could be dismissed. Some have speculated that the higher court could reject the SEC’s appeal.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Top Altcoins to Buy in 2025: BlockDAG, Solana, Cardano, and Avalanche Could See Strong Growth

Explore top altcoins to buy now like BlockDAG, Solana, Cardano, and Avalanche. See what makes them stand out and their potential in 2025.2. Solana’s Speed and Market Data Insights3. Cardano’s Smart Contract Strengths to Explore4. Avalanche (AVAX) Market Overview and Network CapabilitiesTop Altcoins to Buy in 2025: A Summary of Choices

Coinomedia2025/05/15 21:55
Top Altcoins to Buy in 2025: BlockDAG, Solana, Cardano, and Avalanche Could See Strong Growth

SUI’s Price Jump, Polkadot’s Bullish Signals, and the 2700% ROI Potential of Unstaked’s Stage 12 AI Crypto: Just $0.008997?

Witness the SUI price prediction climb, Polkadot form bullish patterns, and Unstaked AI presale surge with 2,700% ROI potential as the top crypto pick for 2025.Polkadot Eyes Breakout from Bullish WedgeUnstaked Turns AI From a Buzzword Into a Business EngineThe Path Ahead

Coinomedia2025/05/15 21:55
SUI’s Price Jump, Polkadot’s Bullish Signals, and the 2700% ROI Potential of Unstaked’s Stage 12 AI Crypto: Just $0.008997?

Next Crypto to Explode: BTFD Coin Raises $7M With 200% Bonus Still Live—Whales Are All In as $CAT and $SNEK SlideFind Out More:

$CAT and $SNEK dip, while BTFD Coin preps for liftoff—is this the next crypto to explode?BTFD Coin: The Referral Gold Rush Fuelling the Next Crypto to ExplodeSnek ($SNEK): Can This Cardano Creature Strike Back?Simon’s Cat ($CAT): Nine Lives, But Losing One Fast?Time’s Almost Up: BTFD Coin’s Presale Ends May 26

Coinomedia2025/05/15 21:55
Next Crypto to Explode: BTFD Coin Raises $7M With 200% Bonus Still Live—Whales Are All In as $CAT and $SNEK SlideFind Out More:

Jetcraft Now Accepts Bitcoin for Private Jet Payments

Private jet giant Jetcraft now accepts Bitcoin and crypto, signaling growing luxury adoption.Billionaires Are Buying Jets with BitcoinA Bold Shift in Luxury SpendingWhat This Means for Crypto Adoption

Coinomedia2025/05/15 21:55
Jetcraft Now Accepts Bitcoin for Private Jet Payments