The legal battle between the SEC and Ripple brings new developments. A notable point is the decision to file a deferred appendix for cross-appeals.
New Case Filings
The parties have recently filed a stipulation indicating they will submit a deferred appendix for the cross-appeals 21 days after the appellee's brief is served. Despite this, the SEC is still required to file its opening brief by tomorrow.
Role of the New SEC Chair
The XRP community is questioning whether the new SEC chair Paul Atkins could potentially retract the appeal. Legal expert Bill Morgan expressed uncertainty, suggesting that a vote by all five commissioners might not be required. Former SEC lawyer Marc Fagel weighed in, stating that a newly-formed SEC would likely need to vote to dismiss the appeal, although it would be a highly unusual move.
XRP Price Rally
Meanwhile, Ripple’s XRP is currently up by more than 12 percent and is now eyeing to break the crucial $3 mark. The altcoin is currently trading at the $2.85 mark after hitting a high of $2.87. Ahead of Donald Trump's inauguration on January 20, crypto leaders will gather to discuss the future of cryptocurrencies.
The situation with SEC and Ripple continues to unfold, with XRP's price showing positive momentum. Further changes are anticipated depending on the actions of the new administration.
