Welcome to Extreme Investor Network, where we provide you with unique and valuable insights into the world of trading, the stock market, and all things Wall Street. Today, we bring you intriguing news from the XRP community regarding the SEC’s appeal in the Ripple case.
Recently, there was speculation within the XRP community following Trump’s pledge to fire SEC Chair Gensler on Day 1, leading to questions about the potential withdrawal of the SEC’s appeal if Gensler were to be ousted. JacktheRippler, a prominent member of the XRP community, shared a post highlighting Trump’s statement regarding the possible impact on the Ripple case if he were to win the election.
Pro-crypto lawyer Fred Rispoli has outlined projected timelines for the SEC’s appeal in the Ripple case, anticipating a 30-day extension for the SEC to file its appeal brief in January 2025. Additionally, if Ripple decides to cross-appeal, it must also submit its opening brief by the same deadline.
While the speculation around Chair Gensler’s removal potentially affecting the Ripple saga is intriguing, it is important to note that the decision to appeal likely involved a vote by the five Commissioners. If Gensler was the pivotal vote for an appeal and the incoming Commissioner holds pro-crypto views, there may be a possibility of the Commissioners choosing to dismiss the case voluntarily before the appeal brief is filed.
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