Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

XRP News Today : What’s Next in XRP lawsuit After the SEC’s Appeal Against Ripple?

Share This Post

then add some abstracts or play with color, it is simple

The post XRP News Today : What’s Next in XRP lawsuit After the SEC’s Appeal Against Ripple? appeared first on Coinpedia Fintech News

The United States Securities and Exchanges Commission last day filed its appeal against the August 7 Manhattan court judgment, which imposed a minor penalty of $125 million against Ripple Labs, denying the SEC’s demand for a harsher penalty of $2 billion for improperly selling XRP as an unregistered security. With Ripple set to respond soon, here is what you need to know about the next steps in this pivotal case. 

US SEC’s Appeal in the Ripple Case: What’s the Latest?

A Form C was officially submitted to the US Court of Appeal for the Second Circuit yesterday by the US SEC. Notably, the appeal demanded the court to reconsider the aspect of the personal offers and sales of XRP by Brad Garlinghouse, the CEO of Ripple, and Chris Larsen, a co-founder of Ripple.   

It was in 2020 that the SEC initially charged Garlinghouse and Larson, accusing them of raising $1.3 billion through illegal XRP sales. But, in October 2023, the SEC dropped the charges after suffering a setback in July when Judge Analisa Torres ruled that Ripple’s sales of XRP on public exchanges were not considered securities transactions. 

Ripple’s Response: What’s Coming Next? 

It has been reported that Ripple will submit its own Form C within seven days of the SEC’s filing. Based on this report, it can be assumed that Ripple may submit its Form C to counter the SEC’s move this week itself. 

Once Ripple files its Form C, both parties will be consulted to agree on the briefing schedules. The SEC is expected to receive 90 days to present its arguments against Ripple. After this, Ripple will have the chance to counter the SEC’s arguments with their defenses.

In a recent statement, Ripple CLO Stuart Alderoty opined that the legal battle between Ripple Labs and the US SEC could continue till 2026. If so, it would be one of the longest legal battles in the history of the crypto sector. Many believe that the outcome of this legal battle will not only influence the XRP market but also affect the broader cryptocurrency market.  

XRP Price Impact: A General Analysis 

In the last seven days, XRP has experienced a surge of 1.6%. It appears that the SEC’s decision to file its Form C has slightly affected the market, as in the last 24 hours the price has slightly dropped by 1.5%. At the start of this month, the price of XRP was $0.59651. It dropped to a low of $0.5217 on October 3. Since then, the market has moved sideways, ranging between $0.54844 and $0.52173. At present, the daily chart of XRP shows a bullish candlestick, with the price standing at $0.54994. Over the last 30 days, the market has witnessed a notable drop of 4.3%. 

It is important to watch if the price can recover from the drop it suffered in the early days of the month. To do so, it needs to cross the crucial level of $0.61120.   

With market uncertainty surrounding the legal proceedings, keep an eye on xrp price prediction and market trends. Stay tuned to Coinpedia for more updates on the XRP-SEC legal battle and its impact on the XRP market!

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin Liquidity Builds At $105K Level – Sweep Before New Highs?

Bitcoin finally broke through its all-time highs this week, reaching $112,000 and holding firm above the key psychological level of $100,000 After weeks of steady momentum and bullish consolidation,

Dubai Land Department Launches Tokenized Real Estate Initiative on XRP Ledger

Ctrl Alt has officially launched its tokenization partnership with the Dubai Land Department (DLD) for the Real Estate Tokenization Project, marking an advancement in property investment within the

Crypto ETFs Are Booming – But Best Wallet Proves Crypto Wallets Aren’t Just Insurance Policies

ARK Invest’s Cathie Wood spilled her insights into crypto ETFs and wallets at the recently concluded Solana Accelerate event in New York She said that while there can be no doubt the crypto

Best Crypto to Buy as Phishing Scams and Exploits Threaten Web3

The crypto space has a flair for the dramatic – and scandals are still its favorite subplot One day it’s phishing scams turning up in your mailbox like cursed invitations The next, someone’s

Cetus Protocol’s $223 Million Hack Puts Sui’s Decentralization in the Spotlight

While some of Cetus Protocol’s funds exited the Sui network via bridges to Ethereum, $162 million remains frozen in the network due to the joint action of validators The actions stemming from this

VanEck Exec Slams SEC For Delay On Bitcoin ETF Options – Details

Matthew Sigel, the head of digital assets research at VanEck, has criticized the US Securities and Exchange Commission (SEC) over a delayed response on a proposal to list options trading on the