- The SEC could appeal a decision favorable to Ripple, potentially imposing a fine in excess of $2 billion against the company.
- The relationship between Ripple and XRP is under scrutiny because of its legal battle with the Securities and Exchange Commission.
According to a post by Gasparino on social network X, XRP investors could face financial losses due to Ripple’s uncertain victory in its legal battle with the SEC.
One thing the $XRP chasers might want to consider: If @GaryGensler considers $ETH a security, the @SECGov will stop at nothing in getting Torres's weird half-baked @Ripple ruling over turned in the appellate division, and he has a good shot doing so. In other words, you are…
— Charles Gasparino (@CGasparino) March 28, 2024
Ripple’s inability to resolve its legal issues with the SEC underpins Gasparino’s pessimistic view. Uncertainties persist regarding the legal issues that have influenced XRP’s market performance.
Read more: Ripple CTO Explains XRP Price Struggles Amid XRPL Exit Exodus
The legal situation for Ripple changed after a decision from U.S. District Judge Analisa Torres. She found that Ripple’s institutional sales were against the law but also said that selling XRP on the secondary market didn’t count as selling investment contracts. This mixed result led to a short-term rise in the price of XRP in July.
Gasparino believes that XRP will remain under the SEC’s domain
XRP is under scrutiny as the SEC plans to challenge Judge Torres’ ruling, a move reflective of its wider strategy on cryptocurrency oversight. This intensified regulatory effort targets not just Ripple but also extends to Ethereum.
Related: Ripple’s CTO Sets Record Straight: No Concealment of XRP Sales
In addition to the potential appeal, Ripple could be liable for a penalty in excess of $2 billion stemming from the SEC’s most recent moves. Such financial pressure could significantly impact Ripple’s business and the market value of XRP. With legal developments ongoing, investors remain vigilant to the outcome of this legal saga for the future of Bitcoin.
The current price of XRP (XRP-USD) is $0.619526, experiencing a slight increase of $0.000199 or 0.032068%.
Over the day’s range, XRP has fluctuated between $0.610495 and $0.624887, and over the past 52 weeks, it has fluctuated between $0.412962 and $0.887511.
