Ripple CLO Believe That The SEC Has 10% Possibility Of Winning The Appeal In The XRP Lawsuit
The XRP lawsuit continues to be a topic of concern as there is a possibility of the U.S. Securities and Exchange Commission (SEC) appealing the court decision of imposing a $125 million fine on Ripple. Stuart Alderoty, the Chief Legal Officer of Ripple, has expressed confidence that the SEC has only a 10% chance of winning the appeal.
Overview of the Ripple CLO Interview
In a recent interview, Alderoty suggested that a resolution in the XRP lawsuit may be achieved in around 24 days. Ripple has indicated its intentions to repay the $125 million penalty and resolve the case.
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Alderoty also cast doubt on the SEC’s decision to appeal the recent court ruling on XRP, stating that it would be rational for the SEC to refrain from appealing. However, he noted that the SEC’s historical approach to crypto regulations suggests otherwise.
Alderoty also highlighted that historically, less than 10% of appeals in the second circuit have resulted in the reversal of lower court decisions. He emphasized that regardless of the appeal, the court’s ruling stands that XRP secondary market sales are not classified as securities under current law.
Is XRP ETF on the Horizon?
As the XRP lawsuit moves towards a potential settlement, market analysts have begun considering the possibility of an XRP exchange-traded fund (ETF). Despite the market volatility causing XRP’s price to dip below $0.60, there is optimism surrounding the potential for growth for XRP beyond the SEC lawsuit.
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Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
