XRP has remained a significant player in the crypto market since its launch. Ripple’s innovative strides in the global payment system and growing international partnerships have sparked optimism among many investors about its future. However, a potential legal curveball looms.
Zach Rector, a prominent figure in the crypto community, speculated on X about the possibility of Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), filing an appeal against Ripple just before stepping down from his position before Donald Trump’s potential victory.
Throughout Gensler’s tenure, the SEC focused on strong regulatory measures within the crypto industry. His approach toward crypto, particularly regarding securities law enforcement, has drawn significant criticism from the crypto world.
Ripple has been a focal point in this regulatory battle. In 2020, the SEC filed a lawsuit against Ripple Labs, alleging that XRP was an unregistered security.
After years of legal wrangling, Ripple won the legal battle, giving XRP dual regulatory clarity, according to Ripple CEO Brad Garlinghouse. As Ripple’s international partnerships increase, many believe XRP’s value is set to rise as global demand for its payment technology grows. However, the threat of continued legal disputes could hinder this progress.
The Potential Impact of an Appeal
Rector’s speculative scenario echoes concerns that Gensler, potentially aware of his imminent departure—possibly coinciding with a political shift—might initiate an appeal as a final act before stepping down. This move would mirror the SEC’s former Chair, Jay Clayton, who filed the lawsuit against Ripple before stepping down.
The possibility raises important questions about the future regulatory landscape for XRP and Ripple. An appeal could mean that the legal battle, which has already spanned almost four years, may drag on, creating uncertainty for XRP holders and investors.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
The crypto community’s reaction to the possibility of an appeal has been mixed. Some investors see a potential drop in XRP’s value as a buying opportunity.
One X user commented on Rector’s post, humorously suggesting selling his wife and grandmother to purchase XRP when the appeal drives the price down to $0.3.
Another user remarked that they have already been holding XRP for four years, questioning if they would need to wait another four to see the anticipated growth.
Although the community seems to be taking this in good spirits, an appeal could significantly hamper XRP just like the lawsuit prevented it from reaching a new all-time high in 2021. However, experts believe an appeal would be a risky move for the SEC, and the regulator has not hinted at an appeal since the lawsuit ended.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News
