The post Ripple vs SEC: What the SEC is Targeting in Its Appeal Against Ripple? appeared first on Coinpedia Fintech News
The Ripple vs SEC case is making headlines again as the U.S. SEC pushes forward with an appeal. The SEC is primarily challenging the $125 million penalty imposed on Ripple in connection with its institutional sales. However, the XRP community is still unclear about whether the appeal includes other aspects of the case, like programmatic sales from the July 2023 ruling.
Following the SEC’s appeal decision against the ruling that declared XRP tokens non-securities, the altcoin took a heavy hit, erasing all its gains from the past month. This shake-up gives XRP a clean slate as the Ripple vs SEC saga continues to unfold. Investors are now watching closely, waiting to see how the next chapter of this high-stakes legal showdown will impact Ripple and the broader crypto market.
What’s the SEC’s plan will it backfire, and impact XRP severely a lot at stake right now? Let’s understand the appeal process first and the timeline.
Key Developments
Fox Business journalist Eleanor Terrett revealed that the SEC has not yet filed its Form C with the Second Circuit Court, leaving Ripple and its supporters awaiting more details about the appeal. Legal experts expect that a ruling from the court will not happen until early 2026.
Interestingly, despite the looming uncertainty, Ripple has a 14-day window to file a cross-appeal, should they choose to do so. The XRP community remains hopeful that a settlement between Ripple and the SEC could happen before the appeal reaches its conclusion.
XRP Price Under Pressure
Key factors influencing XRP include geopolitical events, Ripple news, and SEC-related developments. Following the SEC’s notice of appeal, XRP has faced strong selling pressure, with its price dropping by over 15%. At the time of writing, XRP is trading at $0.52, with a market capitalization of $29.7 billion. Moreover, XRP has risen about 1% in the last 24 hours but is still down 11.24% for the week.
Over the past month, it dropped 5.53%, signaling a long-term bearish trend. A dip below Thursday’s low of $0.5075 might push XRP towards $0.50, with a 14-day RSI of 36.16 signaling it may hit oversold conditions.
Also Read : XRP Price Analysis: Why the SEC Appeal Could Trigger a Bull Run ,
Despite this setback, many remain optimistic about XRP’s future as the legal battle progresses.
