Expert Lawyer Predicts SEC Will Appeal as $XRP Price Risks 25% Crash

XRP price prediction hints at a steep correction as two experts believe that the US SEC appeal will come before the October 7 deadline.

Ripple (XRP) price approaches a key resistance area, putting the XRP price in a make-or-break situation. The US SEC appeal deadline on October 7 will decide if XRP will crash or climb higher. While the XRP community believes there won’t be an appeal from the US Securities & Exchange Commission (SEC), a former SEC Lawyer and pro-XRP attorney thinks the SEC appeal will come.

XRP Price Correction Likely as Experts Believe SEC Will Appeal:-

XRP vs. The SEC Lawsuit has been a hot topic even after Judge Analisa Torres ruled in favor of Ripple in July 2023. The latest discussion has been surrounding the potential SEC appeal that will contest the said ruling. While the XRP community believes there won’t be an appeal from the SEC, two experts believe otherwise.

Fox Journalist Eleanor Terette posted on X about her conversation with a former SEC lawyer who believes that the SEC will “probably” appeal the July 2023 ruling. The ex-SEC employee added,

“Everyone over there [at the SEC] truly believes that the decision is wrong, that it’s not good law, and should be appealed”

Pro-XRP lawyer John Deaton echoed with Elanor Terette’s X post and former SEC Lawyer and mentioned that there could most likely be an appeal from SEC chair Gary Gensler. Death explained that an appellate court won’t rule Judge Torres was in error, however, even if they did, the SEC still wouldn’t win the case. The pro-XRP lawyer added that the SEC’s weakest argument is the “common enterprise” factor, which Judge Torres didn’t need to apply since the third prong of the Howey Test wasn’t satisfied.

Regardless, both John Deaton and the pro-XRP lawyer believe that the SEC appeal will come before the October 7 deadline.

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