Cash News
Judge Analisa Torres delivered the heavily anticipated final judgment on August 7. While Ripple claimed victory, the SEC has remained largely silent on the ruling, fueling speculation about a possible appeal.
Ripple Chief Legal Officer Stuart Alderoty highlighted the likelihood of an SEC appeal in an interview with CryptoLaw, saying,
“If the SEC were a rational actor, they should just move on from this case. But we all know that, when it comes to crypto, the SEC has proven itself not to be rational. […] So, I wouldn’t be surprised if the SEC does appeal.”
XRP price trends continue to suggest that the market expects the SEC to appeal. Ripple and the SEC have 60 days from the final judgment date to file an appeal.
XRP-spot ETFs in Limbo
The uncertainty over the SEC’s appeal plans could delay XRP-spot ETF applications. Issuers are unlikely to file XRP-spot ETF applications until the appeal period has passed.
An XRP-spot ETF market could boost XRP demand. In November 2023, XRP rallied from $0.6410 to $0.7503 on news of BlackRock (BLK) filing an XRP-spot ETF application. However, the news was fake, causing a drop below $0.60.