Welcome to Extreme Investor Network, where we provide exclusive insights and analysis on the latest trends in the stock market, trading, and everything related to Wall Street. Today, we have some exciting insider information to share with you regarding the recent developments in the XRP programmatic sales ruling in the Ripple case.
A former SEC lawyer recently revealed that the SEC is likely to appeal Judge Torres’s July 2023 ruling on the XRP programmatic sales in the Ripple case. According to the lawyer, everyone at the SEC believes that the decision is wrong and should be appealed. In August 2023, the SEC filed a Motion for Interlocutory Appeal, but Judge Torres rejected the motion in October 2023, requiring the SEC to wait for the final judgment to appeal.
So, what does this mean for XRP price trends? As investors eagerly await the SEC’s docketing statement, XRP could see some volatility, potentially hovering below the $0.55 level. The possibility of Ripple cross-appealing adds another layer of uncertainty to the situation. Speculation around the SEC’s appeal and court filings will likely impact XRP demand in the coming days.
If the SEC decides to appeal the Programmatic Sales ruling, we may see XRP dropping towards $0.50. On the other hand, if the SEC withdraws its appeal, XRP could rally towards $1.00, similar to the price action following the initial ruling.
Stay tuned to Extreme Investor Network for more exclusive updates and analysis on this evolving situation. Our expert team will continue to provide you with valuable insights to help you navigate the dynamic world of trading and investing. Make sure to check back regularly for more in-depth coverage and expert opinions on all things related to the stock market and Wall Street.