Legal expert Fred Rispoli urges crypto investors not to worry about the potential impact of an SEC v. Ripple appeal on XRP’s performance in the bull run.
Attorney Rispoli shared the reassuring message today, emphasizing that an appeal will not hinder XRP’s performance in the bull run. According to him, even if any party appeals, the Second Circuit will not issue a decision until 2026. Hence, there is no cause for immediate concerns.
SEC Lawsuit Sting on XRP Reduces
Furthermore, Rispoli said the “sting” the SEC lawsuit has over XRP has lessened following the SEC’s enforcement actions against exchanges. These actions have prompted the SEC to give the securities tag to multiple assets, including Cardano (ADA) and Solana (SOL).
Consequently, the top lawyer suggested that XRP’s performance in this bull run will depend on factors beyond the SEC lawsuit. In a follow-up comment, Rispoli expressed confidence in XRP and Ripple, hoping they succeed in the bull run.
Growing Concerns About Potential Appeal
Rispoli’s commentary comes amid growing concerns within the XRP community regarding Ripple’s latest filing in the SEC case.
As reported earlier, Ripple recently laid the groundwork for what many considered a potential appeal in the SEC case. The firm requested to delay the payment of the $125 million fine imposed by Judge Analisa Torres on August 7.
Ripple noted that it will move 111% of the fine ($138.75 million) to an account controlled by its legal team until 30 days after the time to appeal expires.
According to the motion, this move will allow Ripple to fulfill the obligations of the August 7 judgment or release the funds if the Second Circuit reverses Judge Torres’ decision.
The recent motion triggered concerns that one of the parties could be planning to appeal, thus extending the lawsuit. Many contended that an appeal could make XRP miss this bull run as it did in 2021.
While other tokens registered new all-time highs in late 2021, XRP could not achieve this feat. At the time, many blamed XRP’s underperformance on the Ripple lawsuit, which was filed the previous year.
However, amid concerns of a similar occurrence during this bull run, Attorney Rispoli thinks the lawsuit’s impact on XRP’s performance has drastically, allowing XRP’s price action to be influenced by other factors.
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Source: https://thecryptobasic.com/2024/09/05/expert-says-appeal-in-ripple-case-wont-hinder-xrp-performance-this-bull-run/?utm_source=rss&utm_medium=rss&utm_campaign=expert-says-appeal-in-ripple-case-wont-hinder-xrp-performance-this-bull-run