As reported by The Bit Journal, the ongoing lawsuit between Ripple and the SEC remains a key topic of interest in the crypto world. The SEC’s silence on whether it will file an appeal has left investors anxious. If the SEC does not file, it could have a positive impact on XRP’s price, while a last-minute appeal could dramatically shift the market. This uncertainty is closely watched by the investor community.
Differing Opinions Among Lawyers
Crypto advocate attorney Fred Rispoli estimates a 60% chance that the SEC will file an appeal in the Ripple case. He notes that Elon Musk’s stance on crypto payments through his X platform might ease the regulatory pressure from the SEC. However, no final decision has been made regarding the appeal.
On the other hand, former SEC lawyers Marc Fagel and James Farrell believe that not filing an appeal would weaken the SEC’s authority. They argue that the SEC is likely to file within the next two weeks. Investors, meanwhile, are waiting to see if and when this will happen.
XRP Price Fluctuations Continue
XRP’s price could react significantly to the outcome of the appeal. If the SEC moves forward with an appeal, analysts predict that XRP might fall below $0.40. However, without an appeal, XRP could rise to $1.00. Currently trading at around $0.60, XRP has seen a 25% drop in trading volume in the past 24 hours, reflecting investor uncertainty.
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Many hope that if the SEC decides not to appeal, XRP could experience a strong rally. However, ongoing uncertainty in the crypto markets has led many to adopt a cautious approach, with the outcome of the Ripple case seen as a major factor in shaping the market’s future.
Ripple’s Strategy and CEO’s Confidence
Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty have been clear that Ripple does not intend to appeal. Ripple has suspended its $125 million fine payment to the SEC until the appeal process is concluded, demonstrating confidence in its position. Garlinghouse has stated that if the SEC does not appeal, XRP is likely to rebound. Despite the ongoing uncertainty in the crypto markets, Ripple aims to strengthen its position.
Expectations and Market Outlook for Ripple
The SEC’s decision on whether or not to appeal will be crucial for XRP’s price trajectory. The market remains volatile amid this uncertainty. If the SEC does not appeal, XRP could rise to $1.00; however, if an appeal is filed, the cryptocurrency could face downward pressure. Investors are closely monitoring the situation, knowing that either outcome could lead to significant changes for XRP.
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
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