Recently, rumors have been circulating about a possible appeal in the case between Ripple and the US Securities and Exchange Commission (SEC). Legal expert Fred Rispoli stated in a post on X that a potential appeal against Ripple will not have a direct impact on XRP’s performance during the upcoming bull run.
Rispoli points out that, if an appeal is filed, a final court ruling is not expected until 2026. Therefore, investors should not worry in the short term.
Additionally, Rispoli notes that the impact of the SEC lawsuit on XRP has diminished, especially since the SEC has now expanded its enforcement actions to other cryptocurrencies, such as Cardano (ADA) and Solana (SOL), by classifying them as securities. According to the legal expert, this reduces the pressure on XRP.
Other factors of importance
In 2021, XRP failed to break its all-time high (ATH), partly due to the ongoing lawsuit. This time, however, Rispoli expects the impact of the case to be much smaller, allowing XRP to outperform during the upcoming bull run.
Unlike previous bull runs, XRP now has clarity on its status as a security for exchange trading, as established in Judge Torres’ July 2023 ruling. Rispoli therefore expects that XRP’s performance during the expected bull run will largely depend on market factors unrelated to the lawsuit.
Ripple Close to Launch of New Stablecoin
Despite all the legal issues, Ripple continues to develop steadily. During Korea Blockchain Week 2024, Ripple CEO Brad Garlinghouse announced that the company will launch a new stablecoin in a few weeks, called Ripple USD (RLUSD), which is currently in a closed testing phase.
Garlinghouse also indicated that Ripple has no plans to list an IPO in the United States due to strict SEC regulations. He criticized SEC Chairman Gary Gensler and warned entrepreneurs about the high legal fees associated with starting a crypto business in the US.
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Source: https://newsbit.nl/expert-legt-uit-waarom-een-sec-beroep-geen-directe-impact-heeft-op-de-xrp-koers/
