Welcome to Extreme Investor Network, where we delve into the latest updates and insights in the world of stocks, trading, and all things Wall Street. Today, we’re discussing the ongoing saga between Ripple and the SEC and what it could mean for XRP investors.
The big question on everyone’s mind is whether Ripple would be willing to settle with the SEC at this stage, especially for a sum well above $10 million. Additionally, why would the SEC entertain a settlement much lower than the nearly $2 billion sum initially discussed, and potentially forgo the option to appeal?
An SEC settlement would effectively put an end to the SEC’s plans to appeal the recent ruling on the Programmatic Sales of XRP. The SEC had filed a Motion for Interlocutory Appeal back in August 2023 after Judge Analisa Torres ruled that the programmatic sales of XRP did not meet the criteria set out in the Howey Test. However, the motion was denied in October 2023, forcing the SEC to consider filing an appeal at the conclusion of the case.
Since then, the SEC vs. Ripple case has been fast-tracked, with charges against Ripple’s CEO Brad Garlinghouse and co-founder Chris Larsen being dropped. While the SEC has not officially disclosed its plans regarding an appeal, it is likely to pursue one unless political pressure from the Biden Administration intervenes. A favorable settlement that puts an end to the appeal plans could potentially boost buyer interest in XRP and even sway some of the crypto vote towards the Democratic party.
In light of these developments, the price action of XRP is closely monitored by investors. Stay tuned as we continue to track this evolving situation and provide you with the latest updates and analysis. Remember to visit Extreme Investor Network for unique insights and expert opinions that set us apart from the rest. Happy investing!