SEC May Dismiss Ripple Case Appeal, Lawyer Suggests

The U.S. Securities and Exchange Commission (SEC) could potentially dismiss its appeal against Ripple before August 15. A pending internal vote on August 7 will determine if the appeal is dropped, affecting market clarity for Ripple’s XRP. Ripple Labs, led by Brad Garlinghouse and Stuart Alderoty, remains central to the case. Legal insights have been shared by Bill Morgan, who has frequently commented on the proceedings, suggesting an appeal dismissal is more probable than not.

The case’s outcome may significantly influence XRP’s market value. Expectations of price surges exist, should the appeal be dismissed. XRP trading pairs and asset accumulation indicate potential liquidity movements, reflecting keen investor interest. Financially, Ripple has a $125 million penalty placed in escrow, pending appeal decisions. Broader industry implications may arise in how cryptocurrency regulation unfolds, with eyes on both BTC and ETH for indirect impacts.

Decisions made about the appeal could set regulatory precedents for high-value crypto tokens. Past legal battles like SEC vs. Telegram provide context, though no appeal withdrawals have matched this one’s scope.

Dismissal of the appeals may happen, and is more likely to happen than not, before the August 15 status report. — Bill Morgan

Future financial, regulatory, or technological outcomes may be dictated by current rulings. Historical data warns of market volatility. Analysts are focusing on XRP’s possible entry to a $3.03–$3.30 range, indicating shifts in investor confidence.