- Ripple vs SEC battle twist as it appeal to the Supreme Court if it loses in the case.
- XRP holders may have potential risks and uncertainties depending on the outcome of the case.
The Ripple vs SEC legal battle has captured the attention of cryptocurrency enthusiasts worldwide. Also, a pro-XRP lawyer John Deaton recently made some remarks about the ongoing legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC). The XRP lawyer said the outcome of this case could have “far-reaching implications for both Ripple and the millions of XRP holders”.
Ripple, the blockchain technology company behind XRP, finds itself locked in a high-stakes dispute with the U.S. SEC. If Ripple ultimately loses to the SEC, experts predict that the collection of any monetary penalties could be delayed for years, contingent on the outcome of potential appeals.
If Ripple loses to the SEC there won’t be any money collected for years and ONLY if Ripple loses on appeal. If the Supreme Court takes it on appeal (which I believe they will if Congress hasn’t acted by then), I believe Ripple hands down wins with this Supreme Court. If the SEC… https://t.co/0xHw266YXf
— John E Deaton (@JohnEDeaton1) July 6, 2023
However, if the case reaches the Supreme Court, Ripple’s chances of securing a victory are believed to be strong. That leading to significant ramifications for the cryptocurrency industry. If the SEC emerges as the winner in this legal battle, Ripple will undoubtedly file an appeal, resulting in the continuation of the status quo for the foreseeable future around 2 to 5 years.
Further, the Ripple vs SEC lawsuit has had more impact on XRP prices. At the time of writing, XRP traded at $0.4698 with a 24-hour trading volume of over $994 million, which climbed around 6%. Also, Ripple’s price surged over 1.6% in a day and 39% since the beginning of the year.
