The XRP lawsuit, one of the most high-profile cases in the cryptocurrency world, has taken another turn as the U.S. Securities and Exchange Commission (SEC) filed a new appeal. This latest development suggests that the legal tug-of-war between Ripple Labs and the SEC will be prolonged, dashing hopes of a quick resolution. Legal experts, including former SEC lawyers, now warn that the case could drag on well into 2025 or even 2026.
The Appeal – A Strategic Move?
Ripple’s steadfast refusal to settle the case, particularly over the classification of XRP as a security, has been at the heart of this legal saga. Earlier this year, a U.S. court ruled that XRP is not a security, a win that briefly bolstered market confidence in the token. However, the SEC’s recent appeal is widely viewed as a strategic maneuver to challenge this ruling and potentially alter the course of the lawsuit.
Former SEC lawyer Marc Fagel weighed in on the situation, suggesting that a settlement between Ripple and the SEC is highly unlikely at this stage. According to Fagel, the court’s prior judgment in favor of Ripple remains a critical hurdle to any potential settlement talks. The SEC’s focus on Ripple’s CEO, Brad Garlinghouse, and Executive Chairman, Chris Larsen, has only fueled speculation about the agency’s long-term goals in this appeal.
Prolonged Legal Battle Expected
Fagel’s sentiments are echoed by numerous crypto commentators, including the popular figure Cryptoinsightuk, who speculated that Ripple might consider settling based on the appeal’s outcome. However, Fagel quickly dismissed this possibility, reinforcing that Ripple has little to gain by settling, especially with a favorable ruling already in hand.
Moreover, Ripple’s Chief Legal Officer, Stuart Alderoty, hinted at a potential cross-appeal, suggesting that Ripple might fight back even harder in the courtroom. Legal analysts have already predicted that the case is unlikely to conclude before late 2025 or early 2026, meaning the crypto community should brace for an extended battle.
XRP Price Soars Despite Uncertainty
Amid the ongoing legal battle, XRP has continued to perform well in the market. Following the SEC’s latest appeal, XRP surged past the $0.54 mark, gaining over 2%. Trading volumes also spiked by 77%, reaching $1.08 billion, according to CoinGlass data. The token has fluctuated between a high of $0.5454 and a low of $0.5305 over the past 24 hours.
Despite the uncertainty surrounding the lawsuit, crypto experts maintain a bullish outlook on XRP. Some analysts predict that XRP could hit the $0.277 target in the coming days, fueled by strong market sentiment and increasing open interest in XRP futures.
Also Read: XRP Set For Volatile Trading – Will It Rally To $0.55 Or Retrace To $0.48?
As the legal drama unfolds, the likelihood of a settlement remains slim, with both Ripple and the SEC showing no signs of backing down. Ripple, emboldened by the initial court ruling, seems prepared to fight the SEC’s appeal tooth and nail. Meanwhile, the SEC continues to push for a reconsideration of XRP’s classification, keeping the case—and the crypto world—in suspense.
For now, all eyes are on the courts, as Ripple’s battle with the SEC moves toward its next phase. With the case potentially dragging on for years, the outcome remains uncertain, but one thing is clear: Ripple’s resolve to defend XRP’s non-security status is stronger than ever.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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