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Заголовок Weekly Ripple v. SEC Lawsuit Recap: Agency Appeal, XRP Price Drop, and More
Дата 20241006

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Weekly Ripple v. SEC Lawsuit Recap: Agency Appeal, XRP Price Drop, and More

Weekly Ripple v. SEC Lawsuit Recap: Agency Appeal, XRP Price Drop, and More

Author: Jordan Lyanchev

Last Updated Oct 6, 2024 @ 08:46

There was some good news for XRP during the week, but it was overshadowed by
the SEC s appeal.

TL;DR:

The US Securities and Exchange Commission filed an appeal against a 2023 court
decision that benefited Ripple s side.

XRP s price tumbled hard in the following hours, despite some optimism
about a potential ETF in the States tracking its performance.

SEC s Appeal

CryptoPotato reported the events from earlier this week, in which the US
securities regulator appealed a 2023 verdict by Judge Torres, which said that
secondary XRP sales do not fall under the securities sales
categorization.

Although Ripple s management said they were not surprised and pledged to
fight the appeal, the company s native token immediately plunged. XRP
went from over $0.6 to around $0.51 before recovering slightly and finding
support at $0.53.

Many industry analysts claimed that the token s fundamentals are still
strong , and some even speculated that the asset could skyrocket in the next
few months, basing their prediction on XRP s behavior after the SEC
initially went after Ripple in December 2020.

After the events, XRP became the most talked-about cryptocurrency within the
community, while many continue to speculate whether the agency has an actual
chance of winning the appeal.

For now, what s certain is that the SEC has not given up on its crusade
against Ripple and the crypto industry, even though it suffered several hits
in the past months. Many hoped that the case against Ripple could be over
after the 2024 ruling that the firm has to pay a $125 million penalty instead
of the $2 billion the agency requested, but we will have to wait more for the
conclusion of this nearly four-year-long battle.

What About an XRP ETF?

Ever since the launch of ETFs tracking the performance of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin (in January
2024) and Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum (July 2024), the community has speculated which would be
the next crypto asset having an exchange-traded fund in the US.

While many have brought up Solana as the most probable option, Bitwise has
headed in a different direction. The crypto asset manager said earlier this
week that it had filed in Delaware for a spot XRP ETF.

However, this still doesn t mean that Bitwise has submitted a filing
with the SEC, which is the regulator that decides whether these funds will see
the light of day. As of now, an XRP ETF seems rather unlikely, given the
ongoing battle between the watchdog and the company behind the token. Still, a
registered entity in a US state is a step in the right direction for Ripple.

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============= Итог: 3,5320 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Ethereum#Bitcoin 3,5320 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Bitcoin#Ethereum


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