Gains related to news flow have been making investors happy for a few weeks now. The process began with the summary judgment in the XRP Coin case. Then on Sunday, Elon Musk took action on social media and the price of DOGE has been in double digits ever since. Now investors want to seize another opportunity for double-digit gains with XRP Coin. So, will it happen?
Expert Opinion on the Ripple Case
Renowned legal expert James Murphy discussed the Ripple case in a recent post. The famous legal expert, known as MetaLawMan, is interested in what will happen next in the ongoing case. According to him, the SEC can take four potential paths in response to the recent decision. James outlines the main points of these paths and sees a major legal showdown on the horizon.
According to Murphy, the first option on the SEC’s table is to file a temporary appeal. Since a final decision has not yet been made, this move would require the approval of both Judge Torres and the Appeals Court. According to him, the SEC is under pressure to achieve such a quick result, and what is forcing it is purely political pressure. The recent decision on XRP Coin, which could also affect the course of the Coinbase and Binance cases, compels the SEC to put up a strong fight.
Will XRP Coin Rise?
If the first option materializes and Gensler’s agency succeeds, the price could plummet sharply. The second option requires the SEC to hold a hearing on the aiding and abetting allegation against Larsen and Garlinghouse before making a normal appeal application. As a third option, the SEC may prefer to immediately drop the allegation against Larsen and Garlinghouse and proceed with an appeal without permission.
The final option could be a settlement. However, MetaLawMan is currently skeptical of this possibility. He says that the SEC may hesitate to settle with Ripple because doing so would weaken the SEC’s strategy of “regulation through enforcement” against the crypto industry.
Murphy’s views indicate that the most likely course of action for the SEC is an appeal application. The famous legal expert argues that the appeal process should start earlier, not later, as it would be beneficial for XRP investors. Lawyers mention a 2-year period for a normal appeal to yield results.
It is plausible that the Securities and Exchange Commission (SEC) could potentially diminish its legal enforcement focus on $XRP over time. A closer and timely collaboration with relevant “stakeHodlers” may become imperative to facilitate the restoration and preservation of essential economic hierarchies.