Ripple CLO Says SEC’s ‘Rehashed’ Appeal Will be Abandoned Under Atkins
The U.S. Securities and Exchange Commission (SEC) filed an opening brief in an appeal to the U.S. Court of Appeals for the Second Circuit in an attempt to overturn a previous court ruling that XRP did not qualify as a security when sold to retail investors. The SEC aims to classify all XRP sales as unregistered securities offerings.
Ripple CLO Stuart Alderoty reacted to the news, writing on Give up. We will respond formally in due course. For now, know this: The SEC lawsuit is just noise. A new era of regulation that favors innovation is coming, and Ripple is thriving.”
Ripple CEO Brad Garlinghouse also expressed disappointment, saying: “The definition of insanity is… doing the same thing over and over again and expecting different results. Gensler The SEC really took that to heart.”
XRP price hits $3:
Despite the legal turmoil, Ripple’s XRP rose 14% to hit a yearly high above $3 on Wednesday morning, signaling renewed investor interest. XRP joins Dogecoin in leading the rise in the cryptocurrency market, outperforming Bitcoin.
Bitcoin hit $100,000 again and is currently trading just above that level. Ethereum is also rising, crossing $3,400. But the biggest news of the day was XRP, which surged to $3.15, up nearly 31% in the past seven days.
XRP’s chart looks strong, with analysts predicting possible price gains in the future. Some analysts believe that XRP could reach $4 or even higher due to long-term accumulation. The market may experience some more volatile moves before a breakout. With the rumors surrounding Trump’s inauguration and its potential impact on the cryptocurrency market, there may be a “dumping news” event.
