CashNews.co
A former SEC lawyer recently discussed the SEC’s view on the Programmatic Sales ruling, saying,
“The SEC will ‘probably’ appeal Judge Torres’s July 2023 ruling concerning the XRP programmatic sales in the Ripple case partly because: ‘everyone over there [at the SEC] truly believes that the decision is wrong, that it’s not good law, and should be appealed.”
In August 2023, the SEC filed a Motion for Interlocutory Appeal, seeking permission to appeal the Programmatic Sales ruling. However, Judge Torres rejected the Motion in October 2023, forcing the SEC to wait until the final judgment to appeal.
XRP Price Trends: What’s Next?
XRP could hover below the $0.55 level as investors await the SEC’s docketing statement. Ripple may also cross-appeal, which could fuel more uncertainty. Ongoing speculation about the SEC’s appeal and the court filings will influence XRP demand.
If the SEC appeals the Programmatic Sales ruling, XRP could drop toward $0.50. Conversely, if the SEC withdraws its appeal, it could rally toward $1.00, mirroring price action following the Programmatic Sales ruling.