With only two weeks left until the deadline to appeal the recent court decision in favor of Ripple, speculation is rampant as to whether the SEC will choose to prolong the lawsuit. The SEC’s silence on their intentions has added to the uncertainty felt by XRP investors and traders.
Lawyers have offered differing predictions on the likelihood of an appeal. Some former SEC lawyers say the agency’s reputation would be damaged if they do not appeal a decision they lost. However, others point out the SEC still has time to decide and may be weighing their options carefully.
Filing an appeal notice takes little effort, so the lack of a clear statement from the SEC so close to the deadline is noteworthy. Pro-crypto attorneys think the SEC wants to consider all factors before committing either way.
Ripple executives have stated they will not appeal and view the rulings as victories. They have also received a stay on the penalty ordered by the court pending any appeal actions.
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Show more +The XRP price hasn’t moved much recently in response to comments from lawyers about potential appeal outcomes. If the SEC does appeal, prices may fall further from current levels around $0.60. In fact, it might revisit $0.45-$0.5 range again.
However, if SEC remains silent, and “uptober” starts well for the crypto market, the XRP price could pump towards $0.9-$1 range as speculative appetite returns.
For now, traders seem cautious with trading volumes declining. The market wants clarity on the next steps from the SEC before confidence and volumes can fully recover in XRP. A last-minute appeal notice could inject fresh volatility, keeping investors on edge until a final decision is made.
Read also: Ripple’s Partnerships Are a Positive Sign For XRP Holders, But Is XRP Ledger Really Decentralized?
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