By Key Points
- SEC vs Ripple appeal extends, causing further market tension.
- Key appeal dates could stretch the legal battle into early 2026.
- XRP drops 10%, reflecting market concerns over SEC appeal.
- Ripple’s cross-appeal and final ruling is expected by March 2026.
Ripple’s Legal Battle Extends: SEC vs Ripple Appeal Timeline
The SEC vs Ripple appeal has further extended the ongoing legal battle, leaving XRP investors and the broader crypto market in a state of uncertainty.
On October 4, 2024, the U.S. Securities and Exchange Commission (SEC) filed an official notice of appeal challenging the ruling in its lawsuit against Ripple, which initially began in December 2020.
This move keeps the case alive and could significantly influence how cryptocurrencies like XRP are regulated in the U.S.
SEC vs. Ripple Case: Appeal Timeline and Implications for XRP https://t.co/JvoIk1G0YC
— 🇳🇱 MackAttackXRP® 🇳🇱 (@MackAttackXRP) October 4, 2024
SEC vs Ripple Appeal Timeline: What to Expect
Crypto lawyer Fred Rispoli has detailed a potential timeline for the SEC vs Ripple appeal, highlighting crucial dates.
According to him, the SEC must submit its initial brief by December 2, 2024, though it’s expected to request a 30-day extension, pushing the deadline to early January 2025.
Ripple will likely respond with a cross-appeal, submitting its brief around the same time as the SEC.
Afterward, both parties will file opposition briefs, expected by February 2025, though Rispoli anticipates Ripple will also seek a deadline extension to March 2025. The final reply briefs will follow, likely by the end of March 2025.
Oral arguments are predicted for September or October 2025, where both the SEC and Ripple will present their cases before a panel of judges. The final ruling is expected no earlier than March or April 2026.
This timeline shows the protracted nature of the SEC vs Ripple appeal, meaning that XRP’s regulatory status and market conditions will remain uncertain for some time.
XRP Market Reaction: Ripple Effect from SEC Appeal
Following the news of the SEC vs Ripple appeal, XRP saw an immediate market reaction.
The price of XRP dropped 10%, reflecting investor anxiety over the prolonged legal battle. As of now, XRP is trading at $0.5249, down 2% in the last 24 hours.
This isn’t the first time XRP’s price has fluctuated due to legal uncertainties. The initial court ruling in July 2023 was a mixed result for Ripple.
Judge Analisa Torres ruled that while XRP is not considered a security when sold on public exchanges, the sale of XRP to institutional investors violated securities laws. Ripple was hit with a $125 million fine as a result.
Industry insiders and former SEC attorneys speculate that the SEC vs Ripple appeal may focus on overturning the ruling regarding XRP’s sale on public exchanges.
Such a move could not only impact Ripple but also set a broader precedent for other cryptocurrencies regarding their classification as securities in the United States.
Ripple CEO Brad Garlinghouse responded to the SEC’s appeal, expressing confidence in Ripple’s position.
He emphasized that Ripple is fully prepared to contest the SEC’s claims in appellate court, noting that the regulator “lost on everything that matters.”
Broader Implications of the SEC vs Ripple Appeal
The SEC vs Ripple appeal is more than just a battle over XRP’s status; it’s a pivotal case for the entire cryptocurrency industry.
The outcome could redefine how digital assets are regulated, especially regarding how tokens like XRP are classified in terms of U.S. securities law.
Should the SEC succeed in its appeal, it could lead to stricter regulatory measures for other cryptocurrencies, which would impact crypto exchanges, investors, and developers alike.
Conversely, if Ripple prevails again, it could reinforce the stance that digital tokens sold on public exchanges aren’t securities, providing a clearer legal framework for the industry moving forward.
With the legal battle potentially extending into early 2026, the market for XRP may continue to see price fluctuations as investors await a final resolution.
In the meantime, the outcome of this appeal will be closely watched by everyone involved in the crypto space.
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