New All-Time High Envisioned For XRP Price Even As SEC Seeks To Appeal Landmark Ripple Ruling.
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XRP price is slightly up on the 24-hour timeframe while having retracted 4% in the past week, according to data from CoinMarketCap. This price development seems optimistic, given that the United States Securities and Exchange Commission (SEC) has just filed a motion for leave to file an interlocutory appeal.
While initial reactions to this have been negative, with some spreading “fear, uncertainty, and doubt” (FUD) that XRP’s status as a non-security may be under threat, this is clearly not the case. Judge Torres ruled that XRP is not a security and cited the SEC v Telegram case to establish digital assets like XRP as commodities. However, the focus of the SEC’s appeal pertains to allegations against Ripple and its executives regarding programmatic and individual XRP sales rather than individual peer-to-peer trading activities on exchanges.
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