According to Alderoty, Ripple will handle any appeal the SEC decides to initiate even though he is confident in the judge’s previous ruling.
Despite the recent SEC vs Ripple summary judgment that largely ruled that XRP is not a security, the SEC has shown intentions to appeal its case in the 2nd Circuit.
Despite the surge in the crypto market, Ripple’s legal victory does not guarantee smooth sailing for XRP or the broader altcoin sector.
Elon Musk announces changing Twitter’s logo to an ‘X’, sparking excitement and support from the XRP community.
The recent court ruling in the Ripple Labs and SEC case has prompted Bank of America to reiterate its differentiation between the trading of blockchain-native crypto tokens and tokenized traditional assets.
The Ripple CEO demanded clear regulatory rules for the crypto industry stating that the SEC shouldn’t undertake the approach of regulation through enforcement.
Open interest on XRP futures has set a new record over $1.1 billion as the community continues to celebrate Ripple’s win against the SEC.
Several top Wall Street firms stated that Coinbase is likely to benefit the most from the improved confidence and regulatory clarity coming from the XRP ruling.
The XRP price surge to its highest in 15 months while the trading volumes also shot up to a 10-month high following a favorable ruling in the SEC lawsuit.
Gensler sees the court’s ruling as disappointing as the Commission partially lost its case against Ripple last week.
Ripple hopes that many US banks and financial institutions will approach the company this quarter.
The surge in XRP price highlights the impact of legal outcomes on the crypto market.
Bitcoin (BTC), the world’s largest cryptocurrency, reached its highest price since June 2022, touching $31,818 on the Bitstamp exchange.
Schwartz’s caution comes amid a surge in XRP price and market capitalization.
Exchanges that delisted XRP back in 2020 in the wake of the lawsuit filed by SEC are now exploring the opportinities for XRP relisting. Among them are Gemini exchange, Kraken exchange, and Bitstamp.