{"id":463138,"date":"2024-09-26T08:01:40","date_gmt":"2024-09-26T08:01:40","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=861008"},"modified":"2024-09-26T08:01:40","modified_gmt":"2024-09-26T08:01:40","slug":"xrp-vs-sec-appeal-strategy-unveiled-by-former-sec-lawyer-as-october-deadline-approaches","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2024\/09\/26\/xrp-vs-sec-appeal-strategy-unveiled-by-former-sec-lawyer-as-october-deadline-approaches\/","title":{"rendered":"XRP vs SEC: Appeal Strategy Unveiled by Former SEC Lawyer as October Deadline Approaches"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-26-14.28.15-A-dramatic-courtroom-scene-symbolizing-the-legal-battle-between-XRP-Ripple-and-the-SEC.-In-the-center-two-large-scales-of-justice-are-tilted-with-.webp\" class=\"ff-og-image-inserted\"><\/div>\n<ul>\n<li><strong>The SEC\u2019s appeal may focus on Ripple\u2019s programmatic sales, with the October deadline sparking speculation.<\/strong><\/li>\n<li><strong>Ripple remains confident, but uncertainty lingers, keeping the market volatile.<\/strong><\/li>\n<\/ul>\n<hr>\n<p>After the revelation <a href=\"https:\/\/www.crypto-news-flash.com\/researcher-exposes-how-sec-views-speculations-role-in-xrps-utility\/\">shared<\/a> by CNF that a researcher exposed how the SEC views speculation\u2019s role in XRP\u2019s utility, the XRP lawsuit, a major legal battle in the crypto space, may not be over yet.<\/p>\n<p>Although Ripple was ordered to pay a $125 million penalty in August, recent developments suggest the U.S. SEC may file an appeal, potentially sparking another phase in the case. The possibility of an appeal has garnered attention, especially as the October deadline for action draws near.<\/p>\n<p>Former SEC lawyer Marc Fagel has shared insights into what the agency\u2019s appeal strategy might look like, focusing on challenging the ruling regarding programmatic sales, which were considered not to be unregistered securities offerings.<\/p>\n<h2><strong>Ex-SEC Lawyer Predicts Appeal Focus on Programmatic Sales<\/strong><\/h2>\n<p>As discussed recently in a CNF <a href=\"https:\/\/www.crypto-news-flash.com\/ripple-vs-sec-john-deaton-brings-sec-misconduct-to-light-xrp-news\/\">update<\/a>, attorney Fred Rispoli noted that the SEC is still undecided and may wait until the last minute to announce an appeal. However, Ripple\u2019s Chief Legal Officer Stuart Alderoty confirmed that Ripple does not intend to appeal, having obtained a stay order on the $125 million penalty pending further proceedings. According to Marc Fagel,<\/p>\n<blockquote>\n<p>the SEC\u2019s appeal is likely to target the legality of Ripple\u2019s programmatic sales made through intermediaries. Fagel also clarified that the appeal wouldn\u2019t focus on the penalties but rather on overturning this specific part of the ruling.<\/p>\n<\/blockquote>\n<p>His comments came during a recent discussion, where he suggested the SEC is looking to address how these sales were ruled compliant. Another former SEC lawyer, James Farrell, has estimated about a 75% chance of the SEC moving forward with an appeal, emphasizing that not appealing could weaken the agency\u2019s stance in <a href=\"https:\/\/www.crypto-news-flash.com\/secs-appeal-against-ripple-puts-xrp-community-on-edge-prompts-exodus-into-this-promising-alternative\/\">future cases<\/a>.<\/p>\n<h2><strong>Ripple Denies Appeal Rumors, But Market Remains Uncertain<\/strong><\/h2>\n<p>With the upcoming October 7 deadline approaching, speculation remains, and some experts believe the SEC may still file a last-minute appeal. If so, Ripple is expected to cross-appeal, potentially delaying the case further and causing continued volatility in the XRP market, with its price fluctuating between highs and lows recently.<\/p>\n<p>Despite the <a href=\"https:\/\/www.crypto-news-flash.com\/ripple-news-xrp-legal-fight-continues-as-lawyer-targets-sec-for-15b-losses\/\">SEC\u2019s potential mov<\/a>e, Ripple\u2019s leadership remains confident that the case is closed. CEO Brad Garlinghouse and CLO Stuart Alderoty have both denied claims of an impending appeal, stating the case has concluded.<\/p>\n<p>In the meantime, according to CoinMarketCap, Ripple (XRP) is trading at <strong>$0.5875<\/strong>, with a <span><strong>0.09%<\/strong> <\/span>increase in the past day and a <span><strong>0.56%<\/strong><\/span> increase over the past week.<\/p>\n<hr>\n<h6>Recommended for you:<\/h6>\n<div class=\"tve-leads-shortcode tve-leads-triggered tve-tl-anim tl-anim-instant tve-leads-track-shortcode_228374\">\n<div class=\"tl-style\" id=\"tve_tcb2_set-001\" data-state=\"50\" data-form-state>\n<div class=\"tve-leads-conversion-object\" data-tl-type=\"shortcode_228374\">\n<div class=\"tve_flt\">\n<div id=\"tve_editor\" class=\"tve_shortcode_editor\">\n<div class=\"thrv-leads-form-box tve_no_drag tve_no_icons thrv_wrapper tve_editor_main_content thrv-leads-in-content tve_empty_dropzone\" data-css=\"tve-u-185a09262cb\">\n<div class=\"thrv_wrapper thrv_text_element\">\n<p data-css=\"tve-u-185a09262d4\"><span data-css=\"tve-u-185a09262d5\">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; No spam, no lies, only insights. You can unsubscribe at any time.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.crypto-news-flash.com\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SEC\u2019s appeal may focus on Ripple\u2019s programmatic sales, with the October deadline sparking speculation. Ripple remains confident, but uncertainty lingers, keeping the market volatile. After the revelation shared by CNF that a researcher exposed how the SEC views speculation\u2019s role in XRP\u2019s utility, the XRP lawsuit, a major legal battle in the crypto space, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":463139,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,11],"tags":[172,25,101,277,102],"class_list":{"0":"post-463138","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-other","8":"category-ripple","9":"tag-crypto","10":"tag-news","11":"tag-ripple","12":"tag-sec","13":"tag-xrp"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/463138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=463138"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/463138\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/463139"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=463138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=463138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=463138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}