The crypto community is receiving bullish signals as cryptocurrency prices rise. Amidst this, the US SEC has filed a new appeal in its case against Ripple.
Current Crypto Community Scenario
The crypto community is increasingly leaning towards bullish signals as activity and prices rise. This positive sentiment ahead of Donald Trump's inauguration may lead to further upward movements in cryptocurrency prices, with bitcoin recently hitting the $99K mark.
SEC's Appeal Against Ripple
The regulatory sector has been spurring new activity as the SEC makes its latest move in the SEC vs. Ripple legal battle by appealing a lower court's ruling on XRP being classified as a security. According to the official statement, XRP should not be viewed as a security because investors were unaware it was sold by Ripple Labs.
Potential Changes for Ripple
Recently, Ripple’s Chief Legal Officer, Stuart Alderoty, commented that the SEC might abandon the lawsuit after the administration change. With new leadership, a shift towards more innovative regulation is expected. XRP prices continue to show upward movements, gaining market attention.
The SEC's latest appeal highlights its determination to prevail over Ripple Labs, yet changes in leadership may alter the approach towards cryptocurrency regulation and Ripple.
