Welcome to Extreme Investor Network, where we provide you with all the latest updates and insights into the world of stock market trading and Wall Street. Today, we are diving into the ongoing SEC vs. Ripple case and how it is impacting the demand for XRP.
The recent court deadlines looming over the SEC vs. Ripple case have raised concerns among buyers, leading to a decrease in demand for XRP. The SEC is seeking an almost $2 billion penalty from Ripple for allegedly breaching US securities laws in Q1 of 2024. This penalty decision is expected in the coming months, and Ripple is preparing for the possibility of an appeal from the SEC regarding the Programmatic Sales of XRP ruling.
The SEC’s recent victories in other cases, such as Terraform Labs and Do Kwon’s securities law breaches involving Luna and TerraUSD, have further incentivized the SEC to potentially appeal the Programmatic Sales of XRP ruling. In a December ruling, Judge Rakoff criticized the previous ruling that XRP was not a security when sold on exchanges, opening the door for a possible appeal.
Additionally, the SEC’s case against Coinbase (COIN) and the recent denial of Coinbase’s Motion to Dismiss by Judge Failla could also impact the SEC’s decision to appeal the Programmatic Sales of XRP ruling. If Coinbase’s Motion for Interlocutory Appeal is granted and successful, it could influence the SEC’s strategy moving forward.
Stay tuned to Extreme Investor Network for more updates on the SEC vs. Ripple case and how it could impact the future of XRP trading. Our team of experts is here to provide you with unique insights and analysis to help you navigate the ever-changing landscape of the stock market.