SEC-Related Factors Could Impact XRP Price
The recent approval given to the US Securities and Exchange Commission (SEC) to file an interlocutory appeal against Judge Analisa Torres’ ruling has raised speculation about its impact on the price of XRP. However, it is important to note that this approval does not guarantee the success of the SEC’s appeal. The court will carefully consider the grounds for appeal and whether they meet the necessary requirements.
According to former SEC official Marc Fogel, meeting the requirements for an interlocutory appeal is challenging, indicating that the odds are against the SEC. Therefore, it is expected that the court will deny their request. If this happens, XRP could experience a surge similar to what was seen after Judge Torres’ ruling.
Possible Ripple-SEC Settlement
An additional factor that could drive a positive trend for XRP is the potential settlement between Ripple and the SEC. There have been discussions within the crypto community about the likelihood of a settlement and the factors that could contribute to it.
If Judge Failla were to grant Coinbase’s motion to dismiss the SEC’s lawsuit against them, it could pave the way for a settlement. This would align with Judge Torres’ ruling that programmatic sales are not investment contracts and tokens purchased through exchanges cannot be classified as such.
This development could force the SEC into settling as it becomes more evident that they lack jurisdiction over token sales on exchanges. Additionally, revelations surrounding the ETH Gate scandal may further push the SEC towards a settlement in order to preserve their credibility.
Ripple Going Public Speculations
There are also rumors circulating about Ripple potentially going public. The company has a scheduled event in New York on September 29, which many believe could involve an announcement about their initial public offering (IPO) plans. Such news would generate significant interest and excitement around Ripple, benefiting the price of XRP.
Hot Take: XRP’s Future Price Outlook
Despite the skepticism surrounding XRP’s price performance, various macro and micro factors could significantly impact its value. If the court rejects the SEC’s appeal and a settlement between Ripple and the SEC becomes more feasible, there is a chance that XRP could experience substantial gains. Additionally, the potential announcement of Ripple’s IPO plans could generate further enthusiasm in the market. It is worth closely monitoring these developments to gauge XRP’s future price trajectory.
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