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Ripple vs SEC Legal Battle Takes a Surprising Turn – What's Next for XRP Price?

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2024-09-05 18:15:13944browse

Ripple has requested that the court delay enforcing the $125 million judgment amount from their lawsuit with the SEC until 2026.

Ripple vs SEC Legal Battle Takes a Surprising Turn – What's Next for XRP Price?

The court battle between Ripple and the SEC has taken a surprising turn, with Ripple requesting that the court delay enforcing the $125 million judgment amount until 2026.

The request comes after a judge in the case ruled that seven tokens sold by Binance are unregistered securities. The SEC had argued that XRP is also a security, but the judge ultimately disagreed.

In a bid to ensure that funds are available if needed after all appeal options are exhausted, Ripple has proposed placing 111% of the judgment into an escrow account.

The stay would hold the funds until 30 days after any potential 60-day appeal window closes. This aims to provide a buffer period for both sides to prepare for further legal proceedings if appeals move forward.

Crypto analyst Fred Rispoli assuaged concerns about a possible SEC appeal.

“Don't worry about SEC appeal,” Rispoli wrote on Twitter. “There won't be a final ruling until 2026 due to standard appeal timelines. Also, the SEC has dramatically reduced the impact of this case by going after exchanges and designating other assets as securities.

“If Ripple or XRP get into further trouble in the future, it likely won't be solely because of the SEC's case.”

Meanwhile, XRP price stayed mostly flat following this news, currently trading around $0.55.

If the SEC does appeal, we could see XRP price decline to $0.40 – $0.45 area.

However, if there's no appeal, then the price could continue to trade in the $0.55-$0.6 range before bouncing to $0.7 – $0.8 area.

All of these options are now “on the table”.

Let's take a look at what the community is saying on Twitter about the latest development in the Ripple vs SEC case.

Reactions are mixed, with some acknowledging the delays but noting that minor news often causes exaggerated reactions. Supporters will always maintain faith in Ripple’s success. Others hope global adoption and liquidity will drive XRP’s price up despite present legal uncertainties.

We will be watching key upcoming decisions around potential appeals as this long-running lawsuit again takes an unforeseen turn.

Also, check out: This XRP Pattern Could Send Price To New ATH

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