Settlement and Appeals
A settlement in the ongoing SEC vs. Ripple case would also end SEC plans to appeal against the Programmatic Sales of XRP ruling.
Pro-crypto lawyer Bill Morgan recently addressed confusion about settlements and appeals, stating,
“Settlements generally end matters in dispute, including appeal rights in the current proceedings.”
Regarding SEC plans to appeal, Ripple Chief Legal Officer Stuart Alderoty recently stated,
“While our case as a whole isn’t fully over (remedies still to be decided), the Court’s ruling that XRP is not a security will not change (even the SEC told the Court it will not challenge that conclusion).”
However, the SEC’s previous attempt to appeal against the Programmatic Sales of XRP ruling leaves XRP exposed to further litigation risk.
In August 2023, the SEC filed a Motion for Interlocutory Appeal, seeking the court’s permission to appeal against the Programmatic Sales ruling. In October 2023, Judge Analisa Torres rejected the Motion, forcing the SEC to wait until the final verdict before filing appeals.
Settlements: XRP Price Impact
A settlement could signal an XRP return to $1.00.
On July 13, 2023, XRP surged from $0.4696 to a session high of $0.9327 as investors reacted to the Programmatic Sales ruling. However, XRP fell back below $0.45 by mid-August on fears of an SEC appeal.
