Attorney Rispoli Predicts SEC Appeal Ruling Won’t Come Until 2026
Ripple has filed for a stay order on the $125 million penalty payment to the US SEC, introducing a major twist in the XRP lawsuit. Attorney Fred Rispoli reassures that there’s no need to worry about the potential SEC appeal, as its impact won’t be immediate and other factors will play a larger role in XRP’s future trajectory.
Rispoli also noted that the significance of an appeal has been reduced due to the SEC’s recent lawsuits against exchanges and multiple securities allegations. He emphasized that challenges faced by Ripple or XRP will not solely be due to the SEC appeal.
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Regarding the monetary judgment, both parties have reached an agreement, leading to an increased likelihood of an SEC appeal. The funds will be held in trust until 30 days after the appeal deadline passes or once the appeal process concludes.
Despite significant announcements from Ripple, including the introduction of smart contract capabilities to the XRP Ledger and plans to launch its USD-pegged stablecoin RLUSD, XRP’s price hasn’t shown a positive move. Attorney Bill Morgan questioned the impact of these developments on XRP’s price and raised doubts about the application of the Howey test to XRP. He wrote:
“Just my observation, but neither the news that Ripple will bring smart contract capability to the XRPL nor that the RLUSD will go live in the next few weeks has impacted in any discernible way on the price of XRP.”
Furthermore, on-chain data shows a rise in XRP short positions, and analysts are predicting a potential 15% crash from the current price levels. As at the time of writing, XRP is trading at $0.553754, which investors believe new development should reflect on XRP price to bring stability and excitement to the XRP ecosystem.
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