SEC vs. Ripple: Court Filing Sparks Speculation on SEC Appeal
Recently, Ripple made a significant move by filing for a stay of the monetary portion of the August 7 judgment in the ongoing SEC vs. Ripple case. This development has stirred up speculation within the crypto community about the possibility of an SEC appeal against the rulings.
In their filing, Ripple received permission from the SEC to place 111% of the $125 million penalty with their counsel. This stay will remain effective for 30 days beyond the 60-day appeal window, indicating a potential legal battle on the horizon.
Upon the news, reactions were mixed among industry insiders. Esteemed pro-crypto lawyer Fred Rispoli expressed his belief that there is a 60/40 chance in favor of an appeal by the SEC. On the other hand, fellow pro-crypto lawyer Jeremy Hogan took a more skeptical stance, suggesting that the SEC might still be mulling over their decision to appeal.
As the legal drama unfolds, the price of XRP has seen some fluctuations in the market. From Monday, September 2, to Saturday, September 7, XRP experienced a 4.44% decline to $0.5234. Despite hitting a low of $0.5027 on Friday, XRP managed to bounce back above the $0.52 mark by the end of the week.
At Extreme Investor Network, we are closely monitoring this situation and providing up-to-date analysis on how this legal battle could impact the crypto market. Stay tuned for more insights and expert commentary on this unfolding story.