Welcome to Extreme Investor Network, where we provide you with the latest insights and analysis on the Stock Market, trading, and all things related to Wall Street. Today, we dive into the recent XRPUSD reaction to the July 2023 rulings and the implications for investors.
Legal experts have weighed in on the recent Binance filing, creating some confusion within the crypto community. While some believe that the SEC dropped the Binance lawsuit and therefore may not appeal the XRP ruling, former SEC lawyer Marc Fagel has clarified that the Binance lawsuit is still ongoing. This uncertainty surrounding the SEC filing has left investors speculating on the potential outcomes for XRP.
The SEC’s recent filing suggested that the agency is focusing on the promotion and economic realities of crypto assets in secondary markets, rather than categorizing them as securities or commodities. This could potentially leave an opening for an appeal against the Programmatic Sales of XRP ruling, adding another layer of complexity to the situation.
The price trends for XRP may heavily depend on the SEC’s decision to appeal the rulings in the Ripple case. If the SEC decides to appeal, XRP could see a drop below $0.40. On the other hand, if no appeal is filed, XRP could target $1.00, reflecting the market’s response to the Programmatic Sales of XRP ruling.
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