Ripple Files Cross-Appeal in SEC Case, XRP Sees Modest Price Increase
In response, the SEC appealed the 2023 ruling, triggering uncertainty and a price dip for XRP. Ripple’s Chief Legal Officer, Stuart Alderoty, revealed that the company filed a cross-appeal to "ensure nothing’s left on the table," emphasizing that there can't be an "investment contract" without essential rights and obligations in place.
Alderoty also pointed out that the SEC does not dispute the court's ruling that XRP itself isn’t a security, adding that the regulator even apologized in another case for implying that a token could be considered a security.
XRP Price Sees Modest Gains Following News
Following the cross-appeal announcement, XRP saw a brief price rise, climbing to around $0.54 before settling at $0.53, a 1.5% increase. Despite this small uptick, XRP remains down over the past two weeks, mirroring the broader downturn in the crypto market.
However, analysts like Dark Defender believe that the Ripple v. SEC case has had a "minor impact" on XRP’s valuation, with technical indicators being the primary driver of its price performance.
