One other curveball could be an SEC appeal against the Programmatic Sales of XRP ruling.
Will the SEC appeal against the Programmatic Sales ruling after Judge Amy German Jackman dismissed the SEC vs. Binance case?
Judge Jackman referenced the Programmatic Sales of XRP ruling, stating,
“The court is inclined to agree with the approach of the court in Ripple Labs, since the ‘it-is-what-it-is’ approach of the SEC appears to be inconsistent with the clear Supreme Court directives […].”
One issue for investors to consider is that Judge Rakoff, presiding over the SEC vs. Terraform Labs case, held a different opinion. Judge Rakoff ruled that Terraform Labs and Do Kwon failed to register TerraUSD and Luna as securities.
Before the ruling in the SEC vs. Terraform labs, Judge Rakoff openly criticized the Programmatic Sales of XRP ruling, saying that Judge Torres made an error.
Investors must decide whether the SEC will risk losing on appeal or allow the case to go to the US Supreme Court.
In January 2024, Ripple CEO Brad Garlinghouse commented during an interview about the case possibly reaching the US Supreme Court, stating,
“The current Supreme Court, we’d love to see the Vegas odds on how that would go. They have not been friendly to regulators.”
In conclusion, the threat of an SEC appeal will likely linger and influence near-term XRP price trends.
