In the ongoing Ripple vs SEC legal battle, there are talks of a potential appeal by the SEC challenging Judge Torres’ ruling on XRP. Lawyers, including prominent pro-XRP advocate John Deaton, are assessing the likelihood of the SEC succeeding in this appeal related to XRP sales. It has been speculated that the SEC, under Gary Gensler’s leadership, may pursue this appeal, despite criticism for potentially wasting taxpayer resources.
Deaton pointed out that Judge Torres’ decision was fact-specific and criticized the SEC for its approach. Even if an appellate court finds fault with Judge Torres’ ruling, the case could ultimately return to her, and the SEC might face another defeat as the court could determine a lack of a ‘common enterprise’.
Legal experts like Fred Rispoli echo Deaton’s sentiments, indicating that overturning Judge Torres’ ruling poses a significant challenge for the SEC. The outcome of the Ripple case may hinge on the composition of the panel of justices assigned to hear the appeal, with Rispoli suggesting that a panel favoring the SEC could potentially lead to a favorable outcome for the agency.
Meanwhile, the XRP market is showing signs of positive movement, with the price of XRP experiencing a 2% jump over the past 24 hours, currently trading at $0.602. There has been a notable increase in trading volume, indicating growing interest from traders. Analysts are predicting a price target of $2 for XRP, further underscoring the significance of the ongoing legal developments between Ripple and the SEC.