The XRP lawsuit case has taken a new turn with the latest US SEC appeal in the legal battle. The latest appeal signals further extension in the legal battle between the blockchain firm and the agency. Notably, many renowned lawyers do not anticipate the legal battle to be over anytime soon.
However, amid this, an ex-SEC lawyer reveals a potential reason behind the US SEC’s appeal in the case.
Expert On Ripple SEC Settlement In XRP Lawsuit
The XRP lawsuit has been one of the longest-running high-profile cases in the crypto market. Notably, Ripple has consistently remained committed to not settling over XRP’s security classification. Notably, the court has already ruled that XRP is not a security, sparking optimism in the market.
However, the recent US SEC appeal is seen as a strategic move by the agency to challenge this ruling. Besides, targeting Ripple CEO Garlinghouse and Chris Larsen in the appeal has also sparked speculations in the broader crypto market, let alone the XRP community.
Now, in a recent X post, ex-SEC lawyer Marc Fagel said that a Ripple SEC settlement is unlikely given the recent appeal. He explained that any settlement now would not overturn the court’s previous summary judgment, which ruled in Ripple’s favor regarding XRP’s non-security status.
As such, the appeal remains a critical obstacle in any potential settlement talks. Legal experts argue that unless the SEC’s appeal is resolved, Ripple has no incentive to settle, especially with a favorable ruling in hand.
This stance was also echoed in a statement by crypto commentator Cryptoinsightuk, who suggested Ripple might consider settling based on the appeal’s outcome. However, Fagel was quick to dismiss this idea, reinforcing that Ripple has little to gain by settling under current conditions. Instead, both parties are likely to brace for an extended legal battle, with no immediate resolution in sight.
Source: X
XRP Price Soars Amid Ripple Cross-Appeal Anticipation
According to market experts, the Ripple is likely to cross-appeal in the ongoing XRP lawsuit. In addition, Ripple CLO Stuart Alderoty has also slammed the US SEC after the recent appeal notice filing, saying that the company might consider a cross-appeal in the case.
On the other hand, pro-XRP lawyers have also predicted that the Ripple SEC case is likely to conclude in late 2025 or early 2026. This indicates that the legal battle, which has already extended for a longer period, will continue in the near future.
Amid this, XRP price soared $0.54 mark today, with a gain of over 2%, while its trading volume jumped 77% to $1.08 billion. Notably, the crypto has touched a high of $0.5454 and a low of $0.5305 in the last 24 hours. Furthermore, CoinGlass data showed that XRP Futures Open Interest rose more than 2%, indicating a positive sentiment hovering in the market.
Meanwhile, despite the recent US SEC appeal, crypto experts have showcased bullish sentiment on XRP. Besides, a recent XRP price analysis suggests that the crypto could hit the $277 target in the coming days.
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