Recent comments from Ripple CEO Brad Garlinghouse about the SEC halting its appeal in the XRP case have sparked discussions within the cryptocurrency community. Here, we delve into the case details and potential paths forward.
Current Status of the Ripple Case
The SEC has announced it is dropping its appeal in the case against Ripple. This announcement has led to various interpretations and involves recent changes for the XRP cryptocurrency, whose price has dropped by 2.4% into the $2.40 range.
Possible Scenarios According to Jeremy Hogan
Pro-XRP lawyer Jeremy Hogan proposed four possible scenarios:
1. **Ripple continues its appeal** – this will involve an appellate court review of key questions. 2. **Ripple drops its appeal and returns to trial court** – this could involve revising the existing judgment. 3. **Ripple drops its appeal and agrees separately** – reaching an out-of-court agreement. 4. **Ripple pays the fine** – quickly resolving the case by paying the $125 million fine.
Expert Opinions on Ripple’s Strategy
Attorney Fred Rispoli suggests Ripple might pursue a cross-appeal to reduce or eliminate the penalty. He notes that political factors often affect SEC decisions, and Ripple's progress in court surpasses that of companies like Coinbase or Kraken.
Ripple's future depends on its choice following the SEC's withdrawn appeal. Regardless of the decision, this case remains a significant development to watch for its wider impact on cryptocurrency regulation.
