The SEC may appeal the Ripple ruling, challenging the classification of XRP as a non-security.
The appeals process could take 10 to 11 months, possibly extending until 2025 or 2026.
XRP’s price recently rose to $0.62, with analysts predicting it could reach $1 amid renewed interest.
The SEC is expected to appeal the recent court ruling that XRP is not a security, according to legal experts. This comes after District Judge Analisa Torres ruled in favor of Ripple in July 2023. Despite the uncertainty, XRP has surged in value, climbing around 12.50% in over a month and is right now around $0.62.
Legal experts say the SEC’s appeal would challenge the application of the Howey test, which determines whether a transaction is an investment contract. Former SEC enforcement attorney Marc Powers said the SEC likely wants to avoid inconsistent rulings in district courts. He also stressed that the SEC is likely to appeal because the case involves programmatic trading.
SEC Appeal Process May Drag On
Former SEC lawyer Marc Fagel clarified that the Court of Appeals must hear the SEC’s appeal. He explained that the process usually takes 10 to 11 months. The $…
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