The SEC is contemplating an appeal following Ripple's landmark victory. Analysts and lawyers express differing opinions on the likelihood of an appeal and its potential outcomes.
Bill Morgan's Take on the Case
Since Judge Analisa Torres issued her final judgment on August 7, the SEC remains undecided on an appeal. Legal expert Bill Morgan suggests that if guided purely by legal considerations, the SEC might not appeal. Morgan noted that recent judicial trends, such as Judge Orrick's preferences in the Kraken case, might influence the SEC's decision.
Huber's Perspective
Known crypto analyst Mr. Huber suggested that the SEC might delay its appeal until after a rate cut, similar to its previous timing of filing lawsuits during favorable market conditions, such as the Christmas bull run. Huber's post on X highlights a pattern where the SEC's actions coincide with significant financial events.
What to Expect from SEC Appeal?
Former SEC member James Farrell noted that if Ripple wins an appeal, the SEC could face financial risks, such as bond costs and possible interest. There's also the potential contestation of XRP sales, potentially reshaping crypto regulation. The SEC will discuss the case on August 29, and an appeal could extend the case into 2025. The 60-day appeal window closes in early October, which could be influenced by changes in the US administration.
The outcome of these developments could lead to significant price swings for XRP. If no appeal follows, XRP could aim for a price level above $1.00. Meanwhile, the market closely monitors the SEC's actions and their potential impact on various cryptocurrency assets.
Comments