BREAKING!
SEC Appeals Ripple Ruling, $XRP Nosedives 10% Amid Legal Tensions
Today, the U.S. Securities and Exchange Commission (SEC) officially filed an appeal against the Ripple case, causing $XRP to drop by about 10%, now trading around $0.53. The appeal disputes the ruling that XRP sales on secondary markets are not considered securities. This has introduced further uncertainty among investors as the legal battle stretches on, impacting market confidence.
Notably, Gurbir Grewal, SEC's Director of Enforcement, is set to step down on October 11th. Grewal has led significant investigations into crypto, including lawsuits against Binance and Coinbase. His exit could shift the SEC's approach to the crypto space, potentially reducing pressure on Rippleâ.
With XRP currently trading at a lower price, some analysts see this as a potential buying opportunity, especially if Ripple eventually prevails in the case. Price predictions suggest XRP could rise to $5.85 or even higher if the legal outcome favors Rippleâ.
