News View Non-AMP

Ripple vs SEC Update Today: XRP Price Fluctuates as SEC ‘75% Likely’ to Appeal

Published by
Elena R

This is the climax! The long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is heading toward its final stages, but it might not be over yet. Speculation is growing that the SEC could appeal, with experts suggesting there’s a 75% chance it will challenge certain rulings.

This has the XRP community on edge, as the possibility of a longer legal battle looms. Amid these rumors, XRP is trading at $0.5866, with a drop in volume by 11% to $928.86 million. It reached a 24-hour high of $0.5908, while XRP Futures Open Interest rose by 1%, hinting at some positive market sentiment.

Will the final act soon be written? Will we have a conclusion? Read on for the answers.

Ripple’s Fight Continues

Last month, Judge Torres handed Ripple a partial win, ordering the company to pay a $125 million penalty—significantly less than the SEC’s initial $2 billion demand. However, shortly after the ruling, rumors began swirling about a potential SEC appeal. Ripple, too, might re-appeal if the SEC pushes forward, possibly dragging the case well into 2025.

James Farrell, a former SEC lawyer, believes there’s a 75% chance of an appeal, especially focused on the rulings around institutional sales. He thinks the timing of the appeal is more about administrative steps than legal strategy, but it could significantly impact XRP’s regulatory future.

Ripple’s Penalty Delay: Preparing for a Long Fight?

Ripple has secured a stay order, delaying its penalty payment, which has sparked speculation that both sides are gearing up for a long legal process. Ripple’s CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty appear unconcerned by the idea of an appeal, but pro-XRP lawyer Fred Rispoli believes an SEC appeal is highly likely.

If Ripple wins the appeal, it could claim statutory interest on the $125 million fine, adding further complexity. The SEC might then have to return the fine along with interest, creating a potential financial setback for the agency.

October Deadline Approaches

As the October 2024 appeal deadline gets closer, the stakes are higher than ever for Ripple and the SEC. The final decision will have a lasting impact on XRP’s market status and could set a precedent for the broader crypto industry. For now, XRP remains volatile, trading at $0.5866 with a slight drop in volume, but showing some positive signs in futures trading.

What’s next for Ripple and XRP? The countdown is on.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Recent Posts

XRP Price Prediction: $10 Breakout or Will Ozak AI Outshine in 2025?

The crypto market is getting more active as we approach the next bull run, and…

May 24, 2025

Top Cryptocurrencies To Watch as Market-wide Volume Spikes

Surging trading volumes are igniting the crypto market, spotlighting top cryptocurrencies like Ethereum (ETH), XRP,…

May 24, 2025

Bitcoin Could Hit $125K by Midyear, Experts Predict Massive Gains Ahead

Bitcoin is on the move again, breaking records and attracting the attention of big players.…

May 24, 2025

XRP Price Forecast 2025: Can It Rebound After Recent Dip and SEC Delays?

The XRP price took a hit from $2.48 and fell to $2.29 early morning on…

May 24, 2025

Why Ripple and XRP Could Be the Backbone of The G20’s Financial Plan?

Ripple’s fast and affordable payment system is gaining traction around the world. A new report…

May 24, 2025

Bitcoin or Gold? Schiff Says Central Banks Have Made Their Choice

The age-old debate between Bitcoin and gold is heating up again and economist Peter Schiff…

May 24, 2025