Judge Analisa Torres issued the highly anticipated final judgment on August 7. While Ripple claimed victory, the SEC remained largely silent on the decision, fueling speculation about a possible appeal.
Ripple Chief Legal Officer Stuart Alderoty highlighted the likelihood of an SEC appeal in an interview with CryptoLaw, saying:
“If the SEC were a rational actor, they should just move on. But we all know that when it comes to cryptocurrencies, the SEC has proven that they are not rational. (…) So I wouldn’t be surprised if the SEC appeals.”
XRP price trends continue to suggest that the market expects the SEC to appeal. Ripple and the SEC have 60 days from the date of the final judgment to file an appeal.
XRP-spot ETFs in limbo
Uncertainty surrounding SEC appeal plans could delay XRP-spot ETF applications. Issuers are unlikely to file XRP-spot ETF applications before the appeal period ends.
An XRP-spot ETF market could boost demand for XRP. In November 2023, XRP rose from $0.6410 to $0.7503 following the announcement that BlackRock (BLK) had filed for an XRP-spot ETF. However, the news was false, causing a drop below $0.60.
