Welcome to Extreme Investor Network, where we provide you with the latest insights and updates on the stock market, trading, and all things related to Wall Street. Today, we are diving into the latest developments in the Ripple case and how it could impact XRP demand.
On September 4, 2024, Ripple filed for a stay on the $125 million court ruling, sparking speculation about a potential SEC appeal. Pro-crypto lawyer Fred Rispoli weighed in on the situation, increasing the odds of an appeal to 60:40 in favor of the SEC appealing the ruling.
The appeal window is set to close on October 7, giving the SEC only seven business days to make a decision on whether to file an appeal. However, Ripple’s Chief Legal Officer, Stuart Alderoty, has dismissed the possibility of an appeal on secondary sales, stating that the law regarding the trading of XRP in the secondary market remains unchanged.
Alderoty’s comments have added another layer of uncertainty to the situation, as market analysts speculate on how the SEC’s decision could impact XRP demand. If the SEC appeals the ruling on Programmatic Sales of XRP, we could see a drop in XRP prices towards $0.40. Conversely, if the SEC chooses not to appeal, XRP could potentially reach $1.00, reflecting the market’s positive response to the previous ruling.
Stay tuned to Extreme Investor Network for more updates on this developing story and how it could shape the future of XRP trading. Don’t miss out on the latest insights that could help you make informed investment decisions in today’s ever-changing market landscape.