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Ripple Vs SEC Lawsuit: XRP version of the wave of anger grows at the last moment of the government agency in the United States, the U.S. Securities and Exchange Commission which may appeal in the Ripple lawsuit. There is still pressure on the XRP people as the appeal is set to expire very soon. Killer EO Elon Musk should put XRP on X Payments said Lawyer Fred Rispoli. XRP price goes up by 4% in the wait of the appeal and Ripple Swell 2024 conference.
Recent updates to the Ripple vs SEC case have sign pointed towards discussions on an appeal against the rulings given by Judge Torres in the XRP case. An attorney insisted on the fact that the United States Securities and Exchange Commission (SEC) will not declare its decision until the twilight. Also, there are indications former SEC lawyers will state that: Most probably the filing of an appeal by the regulator is.
US SEC To File Appeal in Ripple Lawsuit
Both Marc Fagel and James Farrell who are lawyers who once served at the SEC, appeared most confident on an appeal by the U.S. Securities and Exchange Commission in Ripple vs SEC case. They argue that anything short of an appeal will be detrimental to the government agency. It still has two weeks to file the appeal.
Despite this setback, the XRP community remains tense as it waits for the appeal deadline to elapse. But attorney Fred Rispoli thinks that the SEC has not fully decided on whether to appeal or not. Additionally, he stated that any announcement or filing could occur just before the deadline.
Both Ripple’s representatives, Brad Garlinghouse as the CEO and Stuart Alderoty as the CLO, have refuted any plans of appeal in the Ripple vs. SEC lawsuit. The company has also managed to secure a stay order in the court restraining the agency from receipt of the $125 million for the penalty payment pending an appeal.
The Binance case has offered an indication of no appeal on the summary judgment given by Judge Torres concerning the XRP programmatic sales. Specifically, the judge failed to address secondary sales but mentioned that a “programmatic buyer stands in the same boat as a secondary market buyer.”
Should Elon Musk Integrate XRP on X Payments?
According to Fred Rispoli, Elon Musk has failed to needle the SEC. Musk should embed ways of accepting payments on X, every crypto including XRP that the SEC has not deemed to be a security in the court.
They are ‘legally protected’ but afraid. Abnormal and, arguably, unprecedented for Elon,” Rispoli continued on the challenges and the legal perspective of the crypto space:
The SEC trying to punish Elon Musk for not showing up to court to give his deposition in a case related to the $44 billion takeover of Twitter. The agency could fine Musk for disobedience to a lawful administrative subpoena.
XRP Price Breaks Above $0.60 Amid SEC v Ripple Lawsuit Appeal
XRP price traded 4% higher in the last one day or 24 hours and the current price for it is around $0.60. The 24-hour low and high are at $0.580 and $0.610, respectively. Nonetheless, the trading volume has reduced by 25% in the last 24 hours showing that there is low activity among traders.
However, an XRP/USD forecast suggests that the digital currency is set to rally before the Ripple Swell 2024 and that it may have some use in the Ripple vs SEC case, likely sending it past the $0.65 resistance.
