Critical development in Ripple: XRP price may move!

Ripple (XRP) has filed an appeal with the US Securities and Exchange Commission (SEC).

Ripple Labs has targeted some critical elements in its ongoing legal battle with the SEC with a cross-appeal filed with the US Second Circuit Court of Appeals. This appeal is a response to the SEC's appeal filed last week. The SEC's appeal targets certain aspects of the decision partially ruled in favor of Ripple regarding XRP sales in 2023. Ripple's appeal process has attracted widespread attention, especially due to its impact on future regulations of digital assets.

Ripple's General Counsel Stuart Alderoty said in a statement on the social media platform X, "The Court of Appeals will review the existing records and no new evidence will be presented. Therefore, the document discussions experienced in the previous case will not be repeated."

Ripple does not accept that institutional $XRP sales are classified as unregistered securities transactions. This situation led to a $ 125 million fine against the company. The company argues that this decision is based on a misinterpretation of the definition of “investment contract” in the Securities Act of 1933.

According to the company, the court found the definition of an investment contract to be flawed, which requires that the investment contract impose obligations on the seller after the sale and grants the buyer the right to profit from the seller’s efforts. Ripple also claims that the SEC did not provide fair warning that the sale of XRP would violate the law. The company states that the uncertainty about how digital assets will be implemented under existing securities laws poses a major legal problem.

As of the writing of the news, XRP, which is trading at $0.5238, may fall to $0.5143 - $0.4778 and $0.4313, respectively, as regulatory pressure continues.

$BTC $ETH
#CryptoDeNostradame #ParrotBambooCrypto