Ripple $0.649617 The case between the US Securities and Exchange Commission (SEC) and the US Securities and Exchange Commission (SEC) is more on the agenda as the deadline for possible appeal approaches. The crypto community is expecting the SEC to file a last-minute appeal in the XRP case, which could prolong the protracted legal battle in the field of crypto assets.
SEC May Be Advantageous
As FOX Business Reporter Eleanor Terrett noted in her latest X post, the SEC may be right. Former SEC employees who believe that a mistake was made in the decision regarding XRP’s scheduled token sales think that the institution has an advantage. Former SEC Attorney Marc Fagel expressed concerns about the July 2023 Judge Torres decision in the Ripple/SEC case.
“We think the decision may be flawed, but the possibility of the appeal failing causes the institution to hesitate.”
Fagel stated that the SEC objection reflected his views and that the decision may have been flawed. In particular, the SEC’s failure to provide sufficient evidence to prove that Ripple provided promotional materials to buyers weakens the agency’s hand in the case.
The judge said that because this connection was incompletely established, the SEC failed to prove that the buyers had a “reasonable expectation of profit” from Ripple’s efforts.
Investors Are Watching XRP Price Closely
Another former SEC lawyer, James Farrell, emphasized that the SEC had a significant advantage in the litigation process. Farrell noted that the appellate court operates with a “de novo” standard of review, meaning it can reconsider evidence without considering Judge Torres’ findings.
“This new evaluation process may create an opportunity to reintroduce the agency’s testimony that was previously excluded. This is an advantage for the SEC.”
The new review could allow the SEC to gain a significant advantage in the litigation process, which would open the door for the agency to gain a critical edge in litigation. Therefore, the probability of an outcome in favor of the institution in the appeal court process is not zero.
Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty state that “the XRP case is over” and that the institution may not file an appeal. However, some in the crypto community are waiting for the SEC to file a last-minute appeal, which could cause the case to drag on even further.
In this process, investors are trying to understand market sentiment by closely following the XRP price. Fluctuations in the XRP price as we approach October 7 may offer clues about the course of the case.
As a result, the lawsuit between Ripple and the SEC continues to have significant impacts on the crypto markets. The SEC’s potential appeal could change the course of the case and affect the XRP price. Investors continue to closely monitor the upcoming developments.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
