Cryptocurrency Price Today: Toncoin Surged 10%, While XRP, Solana Sees 2% Drop

As the bullish sentiment around the Bitcoin ETF started to fade, the crypto market witnessed a sudden downturn in a majority of prominent digital coins. The price drop recuperated the bearish momentum in the market indicating the downward trend may continue in the coming days.

Timeline of Solana, Toncoin, Xrp

Ripple has objected to the SEC's motion to file an interlocutory appeal challenging its partial victory. On the other hand, its XRP token has started the new month strongly, recording strong on-chain metrics.

American blockchain payments firm Ripple Labs Inc. has filed an opposition to the request from the United States Securities and Exchange Commission (SEC) to seek an interlocutory appeal to the earlier ruling from Judge Analisa Torres that XRP is not a security when traded on secondary marketplaces.

Crypto tracker Whale Alert has spotted several mind-blowing XRP transactions which carried almost one billion of these coins. This signifies that investors' interest to XRP as an asset remains on the high level.

On 1 September 2023, Ripple Labs Inc. filed its opposition to the U.S. Securities and Exchange Commission's (SEC) Motion to Certify Interlocutory Appeal. This move comes as the latest chapter in the ongoing SEC v. Ripple Labs lawsuit, initiated in December 2020.

Ripple's legal team opposes the SEC's appeal request in the ongoing XRP lawsuit, arguing that the grounds for appeal are based on dissatisfaction and lack the exceptional circumstances needed for an interlocutory appeal. The lawsuit's implications for XRP's status remain significant.

The U.S. Securities and Exchange Commission's (SEC) arguments in its enforcement actions against crypto companies are irrational, and the ones presented in the Ripple lawsuit are no different. Judges have called the US SEC's claims “arbitrary and capricious” in the Grayscale lawsuit and Judge Netburn in the Ripple lawsuit used the word “hypocrisy” to describe

In a move that could significantly influence the future of cryptocurrency regulations in the United States, Ripple Labs Inc., along with its top executives Brad Garlinghouse and Christian A. Larsen, has vehemently opposed the Securities and Exchange Commission (SEC)'s motion for an interlocutory appeal.

Stuart Alderoty, Ripple's Chief Legal Officer, revealed that the company has formally opposed the SEC's request for an interlocutory (interim) appeal. Ripple has countered the SEC's claim about XRP's value and emphasizes its utility as a bridge currency for cross-border transactions. Ripple just filed its opposition to the SEC's request for an interlocutory (interim) appeal.

Ripple Labs and its top executives, Brad Garlinghouse and Christian A. Larsen, are vehemently opposing the Securities and Exchange Commission's (SEC) push to certify an interlocutory appeal, as disclosed by Fox Business reporter Eleanor Terrett.

John Deaton, the attorney representing the thousands of XRP token holders in the Ripple Vs US Securities and Exchange Commission (SEC) lawsuit, argued that there was no scope for working together with the agency owing to its acting in the bad faith with the crypto market participants. Also Read: BTC Records a 10-Week Low: Will