XRP (Ripple): possible problems for the crypto with the SEC's appeal

Indeed, although there is already a court ruling that XRP is not to be considered a security when it is traded on secondary markets (such as exchanges), the SEC could appeal to ask for a new ruling.

Timeline of Xrp

Since the summary judgment in the Ripple vs SEC case, XRP has captured the spotlight in the crypto market. Now the fourth-largest crypto by market capitalization, XRP, is currently experiencing a consolidation trend.

After a favorable outcome of the legal standoff between the United States Securities and Exchange Commission (SEC) and blockchain company Ripple, in which Judge Analisa Torres ruled that the sales of the XRP token on cryptocurrency exchanges do not constitute securities sales, several finance experts have given their own two cents.

The number of mega XRP whale wallets holding over 100 million XRP, equivalent to a staggering $74 million, has surged to an unprecedented 199, reports Santiment. According to data, this marks the highest number of such wallets since May 13, signifying a notable rise in investor interest and making XRP a top trending topic in July.

Ripple CEO Brad Garlinghouse has called for legislation to protect crypto retail users while criticizing the U.S. Securities and Exchange Commission (SEC) for assuming authority over the industry without legal jurisdiction.

The U.S. Securities and Exchange Commission (SEC) is considering the possibility of appealing a recent ruling on the Ripple Labs lawsuit, which declared XRP as not being a security when sold to retail investors.

Ripple Vs SEC News: Judge Analisa Torres' summary judgment ruling in the US Securities and Exchange Commission v. Ripple Labs is considered a landmark decision by not only the crypto community but also by the legal community.

In a heated exchange on social media, Ripple Labs Inc's General Counsel, Stuart Alderoty, launched a scathing attack on the United States Securities and Exchange Commission (SEC) over its relentless efforts to crack down on the cryptocurrency ecosystem through what he perceives as a politically motivated “security war.

In a recent video, renowned crypto analyst “CoinsKid” recently shared his in-depth analysis on XRP. Here's a detailed breakdown of his insights. CoinsKid began by acknowledging the strong performance of XRP, which has met his target of 82 cents.

XRP attorney John Deaton robustly responded to critics of Judge Torres' recent ruling on the Securities and Exchange Commission's (SEC) case against Ripple in a series of tweets.

Mark Cuban, a Shark Tank star and owner of the NBA team Dallas Mavericks, has weighed in on the U.S. Securities and Exchange Commission (SEC) v. Ripple case regarding XRP. “The current mission of the SEC is not to protect small investors,” the billionaire asserted. “Their goal is to litigate. And litigate more.