Ripple vs. SEC is heating up, and you know what? XRP isn’t backing down. Court drama just adds fuel to the crypto fire and proves the network’s worth fighting for.
With each twist and turn, the case is shaping the future of crypto regulation as we know it. History is being made. Will the industry win or will the SEC’s regulatory hammer hurt us all?
In a recent post, crypto attorney Bill Morgan expressed doubt about the SEC’s approach to regulating XRP. He humorously suggested that the agency might stretch its interpretation of the Howey test to include political endorsements.
This comment followed a discussion started by user @XRPcryptowolf, who pointed out that Ripple co-founder Chris Larsen’s recent public support for a political candidate might be affecting XRP’s market performance.
Morgan’s remark raises concerns that the SEC’s interpretation of “the efforts of others”—a key part of the Howey test used to determine if an asset qualifies as a security—may be becoming overly broad. By hypothetically including political support or donations as factors that could influence investors’ profit expectations, he highlights the SEC’s potential to expand its regulatory reach.
Ripple faces important deadlines that will shape its future. By November 4, the company must decide whether to submit an amended order or forgo compliance entirely, which could add new tension to the case. Looking further ahead, a pretrial conference is scheduled for December 19, with jury selection and a trial set for January 21, 2025. Meanwhile, the SEC has intensified its efforts to reinstate charges against Ripple’s top executives, with final briefings due on January 15. Ripple’s response to these demands will influence XRP’s market and determine how it goes in the current regulatory scenario.
On October 30, XRP saw a slight decline of 1.02%, closing at $0.5224 and ending its four-day winning streak. This drop occurred as the broader crypto market fell by 0.50%, settling at a market cap of $2.381 trillion. Sentiment surrounding the upcoming U.S. Presidential Election is adding to XRP’s volatility.
Analysts suggest that a potential Trump victory could push XRP above the key $0.55 resistance level, while increased support for Kamala Harris in the election’s final stretch could pull XRP below the $0.50 mark.
What’s at Stake for Ripple and XRP?
Moreover, Ripple’s next steps are important, with each choice in this legal battle potentially impacting XRP’s future. An alternative resolution could spare XRP from prolonged legal stress and stabilize market sentiment, while a defiant approach may bring additional volatility and uncertainty.
What do you think will happen next?
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