The SEC v Coinbase case, along with other court rulings, could potentially benefit the crypto industry. In April 2024, Coinbase filed a Motion for Interlocutory Appeal to challenge the Motion to Dismiss ruling. Previously, in August 2023, Coinbase’s Motion to Dismiss was largely denied by Judge Katherine Failla, who stated that the SEC had plausible claims that Coinbase operated as an unregistered intermediary of securities.
If the Motion for Interlocutory Appeal is granted, the SEC may suffer another setback in the US courts. This could be a significant ruling that would support the argument that the SEC does not have the authority to regulate US crypto exchanges. A favorable ruling would likely increase demand for XRP.
Investors should stay informed about the upcoming verdict in the SEC v Ripple case, which will determine the penalty Ripple must pay for selling unregistered XRP to institutional investors. Keeping up to date with news and analysis can help manage exposures to XRP and the broader crypto market.
In terms of XRP price action, developments in these court cases could have a significant impact. It’s important to monitor these legal proceedings closely to make informed decisions in the crypto market.