The post Ripple vs. SEC: What’s Next After the $125M Settlement in XRP Lawsuit? appeared first on Coinpedia Fintech News
Since the August 7 ruling, the SEC’s silence has left investors in suspense. With the next closed meeting scheduled for August 29, there is speculation that the SEC might discuss its appeal strategy but could delay any formal action until the last moment.
Ripple’s Chief Legal Officer, Stuart Alderoty, has voiced concerns about the SEC’s potential irrational behavior regarding crypto cases. Pro-crypto lawyer Fred Rispoli suggests a 50-50 chance of an appeal, highlighting the SEC’s interest in addressing the secondary market issue, which is critical for its enforcement actions.
While the SEC appeal is unclear, Rispoli went deep into the case and wants clarity
on whether the SEC will pay interest on whether Ripple wins an appeal and the $125M penalty is refunded. Let’s hear him!
Doubts on Statutory Interest!
In a recent X post, Fred Rispoli is seeking another clarification on whether, if Ripple wins an appeal on all fronts except the return of the $125 million penalty, the SEC would be required to pay statutory interest on that amount. This question was addressed to the securities lawyers to answer the financial implications for the SEC if Ripple wins and if the SEC will refund the penalty amount and pay interest to Ripple for the damage it caused to the firm and its native token XRP.
XRP Market Reactions
XRP’s price movements are closely tied to developments in the SEC vs. Ripple case. A potential SEC appeal could drive XRP below $0.40, while a decision not to appeal might push it towards $1.00. Recent rulings have already caused notable price swings, with XRP climbing from $0.4696 to $0.9327 on July 13, 2023.
Current Technical Indicators
However, XRP remains above the 50-day and 200-day EMAs, signaling a bullish trend. A move towards $0.6000 could test the recent high of $0.6312, with potential resistance at $0.6609. However, a drop below $0.5739 might lead to a decline towards the 50-day EMA, and a further fall could signal a trend reversal. With an RSI reading of 51.90, XRP is poised to test resistance levels before possibly entering overbought territory.
Investors should stay alert to updates on the SEC appeal and adjust their strategies accordingly to navigate the potential impacts on XRP’s price trajectory.
Ripple’s latest win might be overwhelming for many but some many loopholes and odds will be cleared in the coming days.