Ripple vs SEC Appeal Looms as XRP Price Surges Amid Growing Speculation

• XRP price increased by 4% as SEC’s last-minute appeal decision looms over Ripple.
• Former SEC lawyers predict the agency will appeal Judge Torres’ ruling, raising tensions.
• Lawyer Fred Rispoli urges Elon Musk to integrate XRP payments on X, calling it a missed opportunity.

The Ripple vs SEC lawsuit continues to grip the XRP community as the appeal deadline approaches. Former SEC lawyers, Marc Fagel and James Farrell, have expressed confidence in the agency’s decision to appeal Judge Torres’ rulings, which excluded XRP programmatic sales from being labeled as securities. 

As speculation grows, tensions rise within the community, with many closely watching for the SEC’s next move.

XRP’s price jumped 4% ahead of the possible appeal, further fueled by excitement surrounding Ripple’s upcoming Swell 2024 event. Despite the price rise, Ripple’s CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty have reiterated that Ripple has no intention to appeal the ruling.

Meanwhile, prominent lawyer Fred Rispoli weighed in on the discussion, calling on Elon Musk to integrate XRP into X Payments. 

According to Rispoli, this would be a strategic move to leverage the SEC’s inability to label XRP as a security in court. He characterized Musk’s hesitation as atypical for the outspoken tech mogul, given his history of pushing boundaries with regulators.

The SEC has also sought sanctions against Musk for failing to appear in court in connection with its investigation into his $44 billion acquisition of Twitter. This legal pressure adds another layer of tension as the SEC prepares to potentially challenge Ripple’s legal victory.

With just two weeks left to file the appeal, the SEC has remained tight-lipped about its decision. Former SEC lawyers believe an appeal is not only likely but necessary for the agency’s credibility. 

However, Ripple has secured a stay order, holding off on a $125 million penalty payment until the appeal process concludes.

As of the time of writing, the live XRP price stands at $0.593266, with a 24-hour trading volume of $1,133,049,351. XRP has increased by 1.54% over the past 24 hours.