Welcome to Extreme Investor Network, where we provide you with unique and valuable insights into the Stock Market, trading, Wall Street, and more. Today, we are looking at the latest developments in the XRP case and how they are affecting the price outlook for this popular cryptocurrency.
According to pro-crypto lawyer Fred Rispoli, the SEC must file its appeal-related opening brief by December 2, 2024, with a possible extension to January 2025. The agency’s decision to appeal could have significant implications for XRP’s future, especially if Trump returns to the White House before the SEC files its opening brief.
Despite a recent rally, XRP has been struggling to break out from the $0.55 mark due to uncertainty surrounding the SEC’s appeal. Judge Analisa Torres previously ruled that programmatic sales of XRP did not meet the third prong of the Howey Test. Ripple’s Chief Legal Officer, Stuart Alderoty, emphasized that XRP’s status as not a security and the secondary market trading of XRP as not security transactions remains unchanged, even if the SEC appeals.
Looking ahead, XRP’s price outlook will be influenced by both the appeal filings and the upcoming US Presidential Election. If Trump continues to lead in the polls and possibly removes SEC Chair Gensler, XRP could aim for $1.00, following its post-Programmatic Sales ruling trajectory. On the other hand, a Harris victory could leave XRP’s fate in the hands of US courts, potentially causing a drop below $0.50 if the SEC’s appeal is convincing.
Stay tuned to Extreme Investor Network for more updates on the XRP case and how it impacts the cryptocurrency market. Our expert analysis will give you the edge you need to navigate these turbulent times in the world of trading and investing.