XRP drops as SEC appeals key rulings, sparking uncertainty in Ripple’s legal battle.
SEC challenges rulings on disgorgement and programmatic XRP sales by Ripple.
XRP may fall below $0.50, with bearish signals and legal uncertainties mounting.
The ongoing legal tussle between the SEC and Ripple has raised the volatility in XRP’s pricing. As a result, XRP dropped sharply below the $0.55 level, reaching a low of $0.5222 on October 3. Investors stay worried that the SEC’s appeal could bring down XRP’s price below $0.50.
Recent trading also showed XRP under pressure, lagging behind the broader crypto market. To note, the crypto market fell slightly by 0.15% while Ripple lost 3.08%.
The SEC’s Notice of Appeal, filed on October 2, indicates their intent to challenge certain aspects of the recent rulings in the SEC v Ripple case. The SEC is particularly interested in the court’s decisions on two major issues.
First, the court denied the SEC’s request for Ripple to pay a $1.1 billion disgorgement, which the SEC sees as a significant setback. Second, the ruling on the programmatic sales of XRP, where the court found that these sales did not meet the c…
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