Ripple Lawsuit News: How SEC’s Appeal Could Impact XRP Price

The legal fight between Ripple and the U.S. Securities and Exchange Commission (SEC) seems to be far from over. Legal expert Fred Rispoli recently suggested that the chances of an appeal in the case have increased significantly. This comes after Ripple’s August 7 request to delay paying a $125 million fine to the SEC, hinting that the battle could continue.

Is XRP in status in trouble again?

Ripple Under the Spotlight

Ripple initially had 30 days to pay the fine, but the company has requested more time, possibly to prepare for an appeal. To address this, Ripple proposed to deposit 111% of the fine amount—around $139 million—into a bank account. This money would stay there until 30 days after the appeal period ends or any appeal is resolved.

The SEC has agreed to Ripple’s request for a stay, temporarily putting the fine on hold. However, this move has left XRP investors uneasy. Although the extension isn’t a clear sign that Ripple will appeal, it raises concerns about a longer legal battle. The SEC has until mid-October to decide if it will pursue an appeal, keeping the crypto community anxious.

Will the SEC Challenge XRP’s Classification?

The possibility of the SEC appealing XRP’s classification as a security is a major topic in the crypto world.

Recently, Meta Law Man discussed potential appeal grounds against Ripple in an interview on Digital Perspective. Crypto trader CryptoView also raised concerns about these grounds, highlighting a key point made by attorney Jeremy Hogan.

Hogan argues that the classification of XRP as a security in the summary judgment is considered dicta—non-binding commentary not subject to appeal. Additionally, the SEC had told Judge Torres that XRP itself is not a security. Ripple’s General Counsel, Stuart Alderoty, has also noted that XRP and its secondary sales on exchanges are unlikely to be involved in any appeal.

What’s Next for Ripple vs SEC?

There are concerns within the crypto community, like those expressed by X user OGC-Sky, that the SEC might use the fine payment to start a new lawsuit, dragging the case out further. Marc Fagel addressed these worries, explaining that if an appeal is filed, the case would move to the Court of Appeals.

This court usually takes about 10-11 months to issue a ruling, which could either uphold the lower court’s decision or send the case back for more proceedings.

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With the SEC’s next move still unclear, the crypto world is closely watching what comes next in this high-stakes legal drama. Will the SEC appeal, or will Ripple’s win hold? Stay tuned.