The Ripple vs. SEC legal saga sees a new twist as the SEC moves to appeal the initial court ruling after 4 years of litigation. Ripple is now navigating the securities regulator's latest challenge in this long-standing case.
Written by Ariela - Last updated on 01/16/2025 at 15:49 by Ariela
As expected, the SEC has filed its appeal brief with the 2nd Circuit Court of Appeals, aiming to overturn the previous decision that ruled XRP sales to retail investors did not constitute unregistered securities offerings. The SEC seeks to categorize all XRP sales as unregistered securities offerings.
In response to this development, Ripple’s Chief Legal Officer, Stuart Alderoty, made a statement:
“As anticipated, the SEC’s appeal brief is a rehash of arguments already rejected—and likely to be dismissed by the next administration.
We will address it in due course. Know this: the SEC’s lawsuit is just noise. A new era of innovation-friendly regulation is on the horizon, and Ripple is well-positioned.”
Ripple CEO, Brad Garlinghouse, also expressed disappointment, stating :
“It’s almost like insanity… Doing the same thing over and over and expecting different results. Gensler’s SEC seems to have fully embraced this concept.”
Despite the legal turmoil, Ripple’s XRP saw a 9% increase over 24 hours, reaching a yearly high above $3 this morning, indicating renewed investor interest. XRP, along with Dogecoin, leads gains in the cryptocurrency market, even outperforming Bitcoin.
The XRP chart appears solid, with analysts predicting potential price gains in the future. Some believe XRP could reach $4 or higher, following a prolonged accumulation period.
The market may experience some erratic movements before a significant breakthrough. With rumors surrounding Trump’s potential presidency and its impact on the cryptocurrency market, a “sell the news” scenario could unfold.
With the SEC’s latest appeal, Ripple remains confident about the outcome of this case. With strong statements from their legal head, the company anticipates the end of this four-year-long legal battle.
As XRP’s price experiences a significant surge, reflecting renewed investor interest, Ripple is determined to embrace an era of “regulation favorable to innovation“.
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Ariela is one of the main editors of the news shared daily on InvestX. With 8 years of experience in writing, she writes articles on the topics that mark the crypto market each day.
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