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 created a positive atmosphere within the XRP community, with members hopeful that XRP’s price might reach one dollar.
Topics of Appeal in the Ripple Case
The SEC appealed the summary judgment regarding Ripple’s sales of XRP on crypto exchanges and the actions of its executives. The focus was particularly on the sales by Ripple CEO Brad Garlinghouse and Chairman Chris Larsen. The SEC is seeking a re-examination of these issues. Meanwhile, it is notable that the SEC did not contest the $125 million fine. It was also reported that the government did not appeal the reimbursement decision that is currently under resolution.
This strategic move by the SEC surprised some experts. Lawyers Fred Rispoli and Marc Fagel confirmed that the SEC is particularly focused on programmatic XRP sales. This situation resulted in a temporary price drop within the community.
Strong Message from Ripple’s CLO
Stuart Alderoty announced that Ripple would respond to the SEC’s application. Alderoty stated that it has become clear that XRP is not a security. He urged the community to patiently follow these developments. This announcement served as a morale booster for the XRP community.
The SEC’s decision not to appeal the security status of XRP has fostered 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 around $0.55, though a 11% decrease in trading volume was noted over the last 24 hours. Meanwhile, XRP futures continue to see activity, with open positions rising over 2% and reaching $770 million.
New allegations from the SEC against Garlinghouse and Larsen have drawn criticism from many lawyers. Additionally, it has been suggested that the SEC missed the filing deadline for Form C and backdated documents. Ripple continues to closely monitor how the legal processes unfold, while the XRP community remains focused on price movements.
In conclusion, making precise predictions about XRP’s future is challenging. However, new market movements are anticipated.
