AsterCrypto
  • Crypto News
  • Bitcoin News
  • Altcoins News
  • Ethereum
  • BlockChain
  • Bitcoin Investment
  • DeFi
  • Web3
  • Web3 Gaming
Reading: Ripple’s Future Is Uncertain Amid SEC Appeal Speculations
Share
AsterCryptoAsterCrypto
Font ResizerAa
Search
Have an existing account? Sign In
Follow US
© Foxiz News Network. Ruby Design Company. All Rights Reserved.
Blog

Ripple’s Future Is Uncertain Amid SEC Appeal Speculations

Ali Raza
Last updated: November 19, 2024 10:42 am
Ali Raza Published November 19, 2024
Ripple's Future Is Uncertain Amid SEC Appeal Speculations

. Ripple has an unsteady future: Saturday, the 8th of June, saw a drop in the price of XRP by 1.30 percent to close the trading session at $0.4928. Despite XRP being on the sidelines with the broader cryptocurrency market in negative territory, long-term investors hope. The court verdicts of the two key cryptocurrencies will be favorable. On Sunday, an investor should keep track of rumors and announcements. The Securities and Exchange Commission (SEC) and cryptocurrency litigation.

Contents
The Saturday OverviewSEC vs. Crypto Ripple Court Ruling and Appeal PlansSEC vs. Coinbase Motion for Interlocutory Appeal Ruling PendingThe US Presidential Election and PoliticaUSUSessuresXRP Price ActionDaily Chart

The Saturday Overview

The price of XRP fell by 1.30 percent on Saturday, June 8. After a decline of 4.29 percent on Friday (June 7), it finished the session at $0.4928.

SEC vs. Crypto Ripple Court Ruling and Appeal Plans

The crypto market is still revolving around the SEC vs. Ripple case, which has not yet been concluded. Ripple’s Ripple’s Future Uncertain is being accused of selling XRP to institutional investors against US securities regulations. So, the investors eagerly await the court decisions that may punish Ripple with penalties and a stop injunctive relief if they find out that the company has continued violating U.S. securities statutes after the 20USplaint. The SEC demanded a mandatory order, a $2 billion fine, and their opening statement on the remedies. If this decision were made in court, Ripple could not use the XRP token to sell the currency to large financial institutions. Furthermore, an injunction would severely setback the extension plans in the United States.

SEC vs. Crypto: Ripple Court Ruling and Appeal Plans

Post-case, it is likely that XRP will face some other uncertainties in the future. Investors predict that the SEC will take a step forward to the next court by filing an appeal in order to challenge the judgment of the XRP Programmatic Sales case. In July 2023, Judge Analisa Torres ruled out the point when XRP programmatic sales fail to comply with the third component of the Howey Test. Some have suspected that the SEC would hold off on the approval of XRP-spot ETFs until they have completed the appeal process. If Ripple’s Future Uncertain case gets disposed of this summer, the appeals process could even last till 2025. A recent interview with the Ripple CEO Brad Garlinghouse disclosed that there might be a possible market for XRP-spot ETFs by 2025.

SEC vs. Coinbase Motion for Interlocutory Appeal Ruling Pending

Nevertheless, the SEC might not be able to appeal the Programmatic Sales of XRP decision to a court. Ripple’s Future Uncertain (COIN) ruling might become a case precedent. The anticipation of the result of the Interlocutory Appeal Motion on Coinbase depends on a judge’s ruling. However, the interlocutory appeal was partially moved to one of the district courts from another, as the SEC had declined the company’s MTD in March.

SEC vs. Coinbase: Motion for Interlocutory Appeal Ruling Pending

In September 2023, lawyer and possible Massachusetts representative John E. Deaton shared that the SEC will likely let the Ripple case go only if the court permits Coinbase MTD. As a result, the SEC can just sit down and do nothing about the issue with Ripple unless it has a favorable court ruling for a strategy of its own.

The US Presidential Election and PoliticaUSUSessures

As John E. Deaton consistently supplied proper arguments in September 2023, the SEC may also assert that on a Coinbase victory, it would be because of the pressure from Capitol Hill. President Biden may reach the support of crypto supporters when the Republican Party’s torchbearer, Donald Trump, runs away with the polls. It may take two to tango that Coinbase shall appeal. The compliance ruling concerning the Programmatic Sales of XRP to the SEC.

John E. Deaton is standing against Elizabeth Warren, now the Massachusetts senator. Furthermore, although Deaton is fighting for more than cryptocurrency. The US digital asset industry would greatly benefit from the co-proponent of the Digital Assets Anti-Money Laundering Act in 2023. Because of the proposed legislation, crypto companies would be forced. To comply with anti-money and counter-terrorism financing regulations like any bank under the proposed bill.

The bill was concocted with Senator Warren. The American Bankers Association, and Senator Roger Marshall at the center stone in December 2023. That year, Senator Warren attracted the media’s attention due to her leadership of the show, including the inclusion of CEOs at the Capitol Hill BaUSUSg Committee hearing. As far as the outcome was concerned, JPMorgan Chase CEO Jamie Dimon uttered: (Not to mention)

XRP Price Action

Daily Chart

XRP took up its position underneath the 50-day and 200-day exponential moving averages, thus verifying the negative price patterns. XRP breaching the trend lines could be a move toward the 50-day exponential moving average. The bulls may attempt to approach the 200-day EMA if surpassing the 50-day EMA. Catching up with the SEC versus Crypto case is a vital issue for investors who need to be active in crypto buying. Nonetheless, if XRP’s price drops below the $0.48 handle value, the relevance of the $0.45 handle might be realized. The 14-day Relative Strength Index (RSI) indicated a value of 37.19. XRP can remain below the $0.48 mark before it gets oversold.

FAQs

What caused the drop in XRP's price on June 8?

XRP's price dropped by 1.30% on June 8 due to negative market conditions and ongoing uncertainty surrounding the SEC vs. Ripple case.

 

What is the SEC's involvement in Ripple's case?

The SEC accuses Ripple of selling XRP as an unregistered security, and investors are awaiting court decisions that could result in fines or penalties for Ripple.

 

How might the SEC's appeal process affect XRP?

If the SEC appeals the court ruling on XRP's programmatic sales, the process could extend until 2025, further delaying the approval of XRP-related ETFs.

 

What role does the U.S. presidential election play in the Ripple case?

Some believe political pressures, especially from Capitol Hill, could influence the outcome of the Ripple case, particularly if crypto supporters gain more influence.

 

What does XRP's current price trend indicate?

XRP is trading below its 50-day and 200-day moving averages, suggesting a bearish trend, with support around the $0.45 mark if the price falls further.

You Might Also Like

Mikami Meme Coin Crash: Lessons for Crypto Investors in 2025

Bitcoin Price Volatility and Impact of Geopolitical Tensions

XRP Price Resistance and Breakout Challenges Key Factors

Cryptocurrencies to Invest in 2025 XRP Ethereum Solana Web3 AI

Web3 Gaming Investment Decline 70% Drop in Funding Q3

TAGGED:Ripple CEO BradRipple's Future UncertainXRP decision
Share This Article
Facebook Twitter Flipboard Pinterest LinkedIn Tumblr Reddit Email Copy Link Print
By Ali Raza
Follow:
Ali Raza is an experienced freelance content writer. His focus is primarily on aster-crypto and btccoinzone. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Ali Raza is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Ali Raza enjoys traveling, reading, and playing cricket when not writing. He now works as a news and article writer for Astercrypto.
Previous Article VanEck Raises Ethereum (ETH) Target to $22,000 on ETF Hype VanEck Raises Ethereum (ETH) Target to $22,000 on ETF Hype
Next Article Top 3 Politically-Inspired Meme Coins to Watch Top 3 Politically-Inspired Meme Coins to Watch
- Advertisement -

Popular News

Ethereum’s Rise as a Strategic
Ethereum’s Rise as a Strategic Asset in Institutional
Ripple vs. SEC: Legal Battle
Ripple vs. SEC: Legal Battle Over XRP’s Status and Its Implications
SpeedHash cloud mining Bitcoin Dogecoin passive income
SpeedHash cloud mining Bitcoin Dogecoin passive income
XRP Price Prediction Will XRP
XRP Price Prediction Will XRP Fall Below $2 Due to Market Trends
XRP Revolutionizing Dubai Real
XRP Revolutionizing Dubai Real Estate with Blockchain
AsterCrypto

AsterCrypto Is A Blockchain News Media, Pivoting On Intriguing Crypto Reports, Expert Opinions, Analysis, Reviews, And Extensive Coverage On Web3 Projects.

Find Us On Social

Facebook Twitter Pinterest Telegram

Legal

  • About Us
  • Contact
  • Privacy Policy
  • Terms and Coniditions
  • Disclaimer
Reading: Ripple’s Future Is Uncertain Amid SEC Appeal Speculations
Share

Contact Us

For Advertisement Advertise@astercrypto.com
For Contact Us Contact@astercrypto.com

© 2024 AsterCrypto. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?