đBREAKING XRP SEC NEWS! THE SEC DID IT! WHAT DOES THIS MEAN FOR RIPPLE AND FOR XRP? CRYPTO NEWS TODAY
The ongoing legal battle between Ripple and the SEC has taken a new turn as the SEC recently filed an appeal challenging parts of the court's earlier ruling. This comes after the July 2023 decision, which ruled that $XRP is not considered a security when sold to retail investors, but it is considered one in institutional sales. Ripple views the SECâs continued litigation as a sign of the agency's overreach and is considering a cross-appeal to defend its position further.
Rippleâs CEO, Brad Garlinghouse, and its legal team are committed to fighting the SEC's claims. They argue that XRP's non-security status is already established and criticize the SEC for prolonging the lawsuit, which they believe has damaged the SEC's credibility without protecting investors. This ongoing appeal could significantly affect the broader crypto market as it prolongs the uncertainty around XRP's legal status.
The price of XRP reacted negatively to the SECâs appeal, dropping over 10%, reflecting the market's unease about the unresolved regulatory situation. Despite this, Ripple remains confident in its position, seeing the SECâs moves as a continued attempt to control the cryptocurrency space, rather than as a genuine legal threat
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