Welcome to Extreme Investor Network, where we bring you the latest updates and insights into the world of trading, Wall Street, and the Stock Market. Today, we dive into the recent remarks made by Ripple CEO Brad Garlinghouse at Korea Blockchain Week (KBW2024) regarding the SEC appeal and XRP’s status as a security.
Garlinghouse expressed confidence in the core ruling that XRP is not considered a security, regardless of a potential SEC appeal. This has provided some relief to XRP holders and investors who have been closely following the legal battle between Ripple and the SEC. However, uncertainty still looms as to whether the SEC will indeed appeal the ruling.
Noted pro-crypto lawyer James Murphy, also known as MetaLawMan, shed light on the regulatory differences between the US and other countries, emphasizing the significance of the ruling that XRP itself is not a security. This distinction has far-reaching implications for the cryptocurrency industry as a whole and could set a precedent for future legal battles surrounding digital assets.
As we look ahead to XRP’s price trends, it becomes clear that much hinges on the SEC’s potential appeal. If the SEC decides to challenge the ruling, XRP may see a dip below $0.40. On the other hand, if the SEC opts not to appeal, we could witness a rise in XRP’s price towards $1.00, similar to the market’s reaction to the recent Programmatic Sales of XRP ruling.
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