With the ⏳ January 15, 2025 deadline for the U.S. Securities and Exchange Commission (SEC) to file its appeal brief fast approaching, speculation is growing within the #XRPCommunity about the regulator's next steps. A notable legal expert believes the SEC will likely proceed with the appeal, despite impending leadership changes.
🏛️ Background of the SEC vs. Ripple Case
The SEC shocked the crypto world when it decided to appeal Judge Analisa Torres’ final ruling on August 7, 2024. This ruling was viewed as a partial win for Ripple, particularly concerning XRP’s classification on secondary markets.
On October 2, 2024, the SEC filed an appeal notice, followed by a Form C outlining the specific aspects being challenged. Initially, the SEC had 91 days to submit its main brief but later requested an extension to January 15, 2025, which the court approved.
This delay has fueled speculation about the SEC’s intentions, especially as the leadership change on January 20 looms.
🧐 Legal Expert Anticipates SEC Filing
Pro-XRP attorney Jeremy Hogan recently addressed the XRP community’s concerns in a tweet. He believes the SEC will ✅ likely file its appeal brief by the January 15 deadline. According to Hogan, the SEC is challenging three main aspects of the case:
🪙 XRP sales on secondary exchanges.
🏢 Distributions to Ripple employees.
📊 Sales by Ripple executives, including Chris Larsen and Brad Garlinghouse.
Hogan explained that the current SEC administration, led by Gary Gensler, is still in charge, making it highly probable that the brief will be filed. However, he urged calm among XRP holders, emphasizing that the filing alone will not determine the case's outcome.
🤝 Settlement Still a Possibility
While the SEC may file its brief, Hogan highlighted the chance of a settlement under the incoming administration. Once the new leadership assumes office, the SEC could choose to:
🤷 Settle the case with Ripple.
❌ Dismiss the appeal entirely.
A settlement remains the most likely outcome, according to Hogan, especially given the precedent set by the $125 million settlement reached in August 2024. This would allow Ripple and the SEC to finalize terms and move forward.
📈 Market Implications for XRP
The outcome of the case will have a significant impact on XRP’s market performance. Analysts predict that a settlement could trigger a sharp price rise—potentially mirroring the 66% surge after the August 2024 ruling. Resolving legal uncertainty could boost both adoption and investor confidence in XRP.
🔮 Final Thoughts
As the ⏳ January 15 deadline approaches, all eyes are on the SEC and Ripple. The potential filing could prolong the case, while a settlement under new leadership might provide a quicker resolution. Either way, these developments will shape the future of XRP and its position in the cryptocurrency market.
⚠️ Disclaimer: This content is for informational purposes only and should not be considered financial advice. Readers should do their own research and consult financial advisors before making investment decisions. Lachakari Father of Benefits assumes no responsibility for any financial losses incurred.