Key Takeaways:
- SEC’s deadline to appeal the Ripple ruling is October 7.
- Marc Fagel advises XRP holders to remain agnostic on Ripple’s legal outcome.
- XRP’s price saw growth despite ongoing legal challenges.
YEREVAN (CoinChapter.com) —The XRP community is closely following Ripple’s legal battle with the SEC. Marc Fagel, a former SEC regional director, urges XRP holders to focus on the token rather than Ripple’s legal situation. As the SEC approaches its October 7 deadline to appeal a recent ruling, many in the XRP community await the next developments.
SEC’s Ruling Shouldn’t Dictate XRP’s Future
The court ruled that secondary XRP sales are not securities, leading Ripple to view this as a legal victory. However, some experts, including Marc Fagel, warn that it may be premature to celebrate. Judge Torres distinguished between institutional and programmatic sales, but Judge Rakoff rejected this distinction in another case. This contradiction creates uncertainty around XRP’s legal clarity.
Fagel states that XRP holders shouldn’t base their investment decisions on Ripple’s legal outcomes. He notes that the court determined that “reasonable XRP holders” do not rely on Ripple for their decisions. This highlights that XRP’s value should remain separate from Ripple’s legal issues.
Legal Uncertainty Continues
Despite the legal challenges, XRP’s price rose by 3% after the court ruling. However, the market remains cautious as regulatory uncertainties linger. Experts believe the SEC may seek clarification on the ruling, while others suggest the agency might avoid escalating the case further.
XRP continues to prove its utility in cross-border payments and other financial services, regardless of Ripple’s legal troubles. Many see XRP’s real-world use cases as vital to its long-term growth and market relevance. The token’s role in the financial system may continue to expand, regardless of the ongoing legal battles.
