#SEC上诉 #xrp
SEC appeals Ripple case: XRP's fate adds another variable
The U.S. Securities and Exchange Commission (SEC) is dissatisfied with Ripple's $125 million fine and has filed an appeal. This move once again dropped a bombshell in the legal battle between Ripple and the SEC, attracting widespread attention in the cryptocurrency circle.
Ripple's CEO expressed strong dissatisfaction with the SEC's appeal, believing that it was both misleading and unreasonable. He bluntly stated that the SEC still seemed to have not accepted the fact that it had lost the case, while Ripple, the cryptocurrency industry and the spirit of the rule of law had won.
The SEC's appeal directly impacted the price of XRP. As soon as the news came out, the price of XRP fell, falling by 13%. Market analysts pointed out that if the selling pressure continues, the price of XRP may fall further to $0.42, a drop of 18%.
At present, the price of XRP has fallen below the key upward trend line, showing a strong bearish sentiment in the market. Meanwhile, the relative strength index (RSI) is also below 40, indicating that the market is oversold. However, this does not mean that XRP prices will rebound immediately, as the market still has room to fall further.
Faced with the SEC's appeal, Ripple did not sit idly by. They plan to file a cross-appeal and call on the XRP community to remain calm. Ripple's chief legal officer said that although he was disappointed with the SEC's move, it was not unexpected. Ripple will stick to it and defend its position.
So, when will the SEC's appeal have a result? According to lawyers supporting XRP, the SEC's briefing deadline may be December 2, 2024 or January 1, 2025. After that, Ripple will submit a cross-appeal brief for rebuttal. Both parties will also submit opposition briefs and reply briefs, and finally conduct oral arguments. The court's final ruling may not be made until January 2026 or March to April 2026.
In this long legal battle, the fate of XRP is full of uncertainty. Investors need to pay close attention to market dynamics and the progress of court rulings in order to make wise investment decisions.
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