Stuart Alderoty, Ripple’s Chief Legal Officer, delivered significant news to the XRP community. The U.S. Securities and Exchange Commission (SEC) decided not to appeal Judge Torres’ summary judgment declaring that XRP is not a security in the Ripple 
$1 Labs case. This development has created a positive atmosphere within the XRP community, leading to hopes that the price of XRP could reach one dollar.
Issues SEC Appeals in Ripple Case
The SEC appealed the summary judgment regarding Ripple’s sales of XRP through crypto exchanges and the actions of its executives. The focus is particularly on the sales made by Ripple CEO Brad Garlinghouse and Chairman Chris Larsen. The SEC is requesting a review of these issues. Notably, the agency did not appeal the $125 million fine, and it was revealed that the government did not file an appeal regarding the repayment decision still in resolution.
This strategic move by the SEC has surprised some experts. Lawyers Fred Rispoli and Marc Fagel confirmed that the SEC is particularly concentrating on programmatic XRP sales. This situation caused a temporary downturn in the community’s price.
Strong Message from Ripple’s CLO
Stuart Alderoty announced that Ripple will respond to the SEC’s filing. Alderoty stated that it is now clear that XRP is not a security. He requested the community to patiently follow these developments, which became a source of morale for the XRP community.
The SEC’s decision not to appeal the status of XRP as a security has generated optimism in the market. Analyst Egrag Crypto predicted that XRP’s price could rise to $1.50 in the short term. Currently, XRP is trading at $0.55, although there has been an 11% decline in trading volume in the last 24 hours. However, purchases in XRP futures continue, with open positions in XRP futures increasing by over 2%, reaching $770 million.
New allegations from the SEC against Garlinghouse and Larsen have drawn criticism from many lawyers. Furthermore, it was suggested that the SEC missed the Form C application deadline and backdated documents. Ripple continues to closely monitor how the legal processes unfold, and the XRP community remains focused on price movements.
In conclusion, making definitive predictions about XRP’s future is challenging. Nevertheless, new market movements are anticipated.
