Welcome to Extreme Investor Network, where we provide valuable insights and analysis on the Stock Market, trading, and all things Wall Street. Today, we delve into the recent developments in the Ripple case and the speculation surrounding a possible appeal by the SEC.
Judge Torres delivered her final judgment on August 7, 2023, setting a deadline of October 7 for both the SEC and Ripple to file appeals. Ripple’s recent filing for a stay of the $125 million penalty on September 6, 2024, has fueled speculation about a potential appeal by the SEC. In fact, a former SEC lawyer shared insights with Fox Business journalist Eleanor Terrett, emphasizing the belief within the SEC that the decision is wrong and should be appealed.
As the October 7 deadline approaches, the speculation about an SEC appeal is likely to increase, impacting XRP price volatility. Price trends for XRP are closely linked to the SEC’s actions, with potential drops towards $0.40 if an appeal is filed, or a target of $1.00 if no appeal is made, mirroring the market’s response to previous rulings in the Ripple case.
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