Experts Weigh in on Ripple vs. SEC Case
As the legal battle between Ripple and the SEC continues, several individuals knowledgeable about the case have taken to public platforms to share their thoughts.
Ripple’s president, Monica Long, recently stated that the company plans to fight the case until the end. She highlighted that Judge Analisa Torres made it clear that XRP is not a security, which has positive implications for Ripple’s business expansion.
The Options for the SEC
Legal expert Jeremy Hogan addressed the potential outcomes of the Ripple v. SEC case. He explained that once there is a final judgment, the SEC can appeal. However, Hogan believes the SEC’s best option is to settle with individual defendants and obtain a final judgment against Ripple before appealing.
Hogan also mentioned that settling all litigation through a settlement conference is unlikely because of the SEC’s lack of willingness to compromise. He left room for other possibilities but considered them less likely.
Ripple’s Support for XRP Price
In response to criticism of XRP, lawyer Bill Morgan defended Ripple by pointing out that their decision not to sell most of the monthly released XRP from escrow supports XRP’s price. This aligns with evidence presented by the SEC in the Ripple case.
Current Status of XRP
At present, XRP is trading at $0.482, experiencing a slight decline of 0.29% within the day and a 7.22% drop over the previous week. However, it still shows a 1.1% increase on its monthly chart as of October 13.
Hot Take: Ripple Remains Resilient Amid Legal Battle
Ripple continues to stand its ground and plans to fight the SEC lawsuit. The recent ruling stating that XRP is not a security opens doors for Ripple’s global expansion. Legal experts weigh in on the possible outcomes of the case, with settlement and appeal options being considered. Despite the ongoing legal battle, XRP’s price remains relatively stable, indicating resilience in the face of adversity.
Fin Boldom has emerged as a notable crypto analyst, accomplished researcher, and adept editor, leaving a distinct mark in the field of cryptocurrency. As a skilled crypto analyst and researcher, Fin’s insights delve deep into the complexities of digital assets, resonating with a diverse audience. His analytical acumen is seamlessly complemented by his editorial finesse, enabling him to distill intricate crypto information into easily comprehensible content. Fin’s contributions serve as a valuable guidepost for both seasoned enthusiasts and newcomers, navigating the dynamic terrain of cryptocurrencies with well-researched perspectives. With meticulous attention to accuracy, he empowers informed decision-making within the ever-evolving crypto domain.
