Ripple Vs SEC: The XRP price has noted volatile trading lately, especially after the agency’s appeal in the ongoing legal battle. Notably, the appeal has sparked speculations in the broader crypto market over the potential motive behind the agency’s move. In addition, many in the crypto community also stayed on the sideline, as the appeal is likely to extend the long-running legal battle further.
Ripple Vs SEC Settlement Speculation
The discussions over a potential settlement between the two parties in the Ripple Vs SEC battle have sparked market interest. Although many in the XRP community anticipate the settlement will happen in the near future, some have denied claims.
For instance, recently ex-SEC lawyer Marc Fagel predicted that the Ripple SEC settlement is unlikely, citing several reasons. Having said that, it is expected that the case will be extended further in the coming days, potentially weighing on the market sentiment.
Meanwhile, in another X post, the former SEC lawyer said that the agency’s primary goal is to reverse the lower court’s decision that programmatic and non-cash sales of XRP are not securities sales. Ripple was recently fined $125 million for defrauding institutional investors, significantly less than the $2 billion penalty sought by the SEC. Despite this, the SEC is pushing forward with the appeal, which may result in higher penalties if successful.
Fagel notes that the SEC’s true interest lies in establishing a legal precedent requiring registration for Ripple’s sales, rather than seeking financial penalties. This development has sparked concerns among investors and industry experts, who are closely watching the case’s outcome.
XRP Price To Witness Further Dip?
The appeal’s implications in the Ripple Vs SEC battle extend beyond XRP price impact. In other words, it could potentially influence the regulatory landscape for digital assets and set important precedents for the cryptocurrency sector.
Besides, Ripple’s native crypto has noted volatile trading lately, sparking discussions in the market. As of writing, XRP price fell over 2% to $0.5282, with its one-day trading volume soaring 45% to $1.15 billion. The crypto has touched a high of $0.5454 in the last 24 hours while crossing the brief $0.66 mark at September’s end.
Meanwhile, this ongoing volatility has sparked discussions over a further decline in the crypto price, especially amid soaring uncertainties in the legal battle. However, Ripple CLO Stuart Alderoty appears to have remained confident and said that the firm might consider a cross-appeal in the case.
In addition, many top experts remained bullish on the crypto’s future, given the recent developments. For instance, Bitwise XRP ETF filing has fueled speculations with a top expert predicting XRP price to hit $5.