Ripple Faces SEC Appeal: XRP’s $3 Breakout Defies Legal Pressure

XRP price is currently rallying, hitting new yearly highs. In the ongoing Ripple case, the SEC filed the opening brief on Wednesday. An expert has predicted that XRP will hit the $10 mark. The U.S. Securities and Exchange Commission (SEC) has filed an appeal in the Ripple case. The filing, submitted late Wednesday, challenges a July 2023 court ruling that dismissed some of the SEC’s claims against Ripple. The SEC disagrees with the court’s decision that XRP transactions aren’t “investment contracts” under the Howey test. Basically, the SEC wants to retry the parts of the case it lost. This process could drag on, and even if the judge sides with the SEC, a quick resolution seems unlikely. However, experts think the timing of this appeal might be irrelevant due to the upcoming SEC leadership change. A new approach from the SEC, expected in a few days, could change everything. Ripple’s legal team believes that once the new leadership takes over, the case will move in their favor. They think this appeal wastes resources, especially since the SEC may change its stance. With current SEC Chair Gary Gensler leaving on January 20th, Ripple believes the “war … The post Ripple Faces SEC Appeal: XRP’s $3 Breakout Defies Legal Pressure appeared first on Coin Edition .