2024

Bold

The last may not have been heard of the<a href="https://thecoinrise.com/xrp-soars-26-as-ripple-labs-secures-victory-in-sec-lawsuit/" rel="noopener noreferrer nofollow"> Ripple versus SEC legal battle despite the major “win” by Ripple Labs.</a> Although Judge Analisa Torres handed down a judgment that put to rest the about three-year legal battle and imposed a $125 million penalty, the U.S. SEC (Securities and Exchange Commission) may appeal.
Judge Torres’ Ruling
In the landmark ruling by Judge Torres, Ripple has been forbidden from breaching securities law in the future. However, the ruling and fine on Ripple seem not to have appeased the SEC, which had anticipated a $2 billion penalty. This has sparked debates as to whether the SEC would appeal the judgment.
Notably, the SEC had previously not been successful in filing an appeal before Judge Torres handed down her ruling.
In a post on X, Marc Fagel, a former SEC regional director, shared his views on possible options that the regulatory body could take should it decide to appeal the judgment. Fagel’s perspective clarified the “victory” and the secondary sales and penalties issue.
<blockquote class="twitter-tweet">
 Not exactly. The SEC won on institutional sales, which were found to violate the law; Ripple won on “programmatic” sales (i.e. sales through third-party intermediaries). It is the latter which the SEC would be appealing (but then Ripple would likely cross-appeal the former).
 — Marc Fagel (@Marc_Fagel) <a href="https://twitter.com/Marc_Fagel/status/1823826674376696101?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 14, 2024</a>
</blockquote>
<h2 id="b-former-insider-provides-insight-on-sec-s-potential-appeal-b">Former Insider Provides Insight on SEC’s Potential Appeal</h2>
According to Fagel, the U.S. SEC won on institutional sales, which were found to violate the law. However, Ripple won on “programmatic” sales made via third-party intermediaries. “It is the latter which the SEC would be appealing, but then Ripple would likely cross-appeal the former,” Fagel stated.
Despite Fagel’s views and clarifications, some in the XRP community and broader crypto ecosystem still believe that if the U.S. SEC files an appeal, the appellate court might likely review the entire ruling. Despite these opinions, the SEC’s legal team has not revealed its strategy.
<h2 id="b-xrp-s-price-slips-b">XRP’s Price Slips</h2>
While the SEC’s next legal step remains unknown for now,<a href="https://thecoinrise.com/xrp-investors-panic-amid-ripple-vs-sec-settlement-talks-drives-traders-to-new-alternative/" rel="noopener noreferrer nofollow"> XRP, which initially rallied to $0.63 following Ripple’s legal victory, has once again slipped</a>. As of this writing, CoinMarketCap <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">data</a> shows XRP trading at $0.5689.
&nbsp;While the cloud of legal uncertainty hangs over Ripple, the general sentiment in the crypto space, particularly among investors, hopes for a final resolution to<a href="https://thecoinrise.com/ripple-partners-difc-innovation-hub-to-boost-crypto-adoption/" rel="noopener noreferrer nofollow"> see XRP focus on growing its assets</a>.
The post <a href="https://thecoinrise.com/ripple-labs-legal-saga-sec-insider-hints-at-bold-appeal-strategy/" rel="noopener noreferrer nofollow">Ripple Lab’s Legal Saga: SEC Insider Hints at Bold Appeal Strategy</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Ripple Lab’s Legal Saga: SEC Insider Hints at Bold Appeal Strategy

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