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DailyBubble News

XRP News Today: Ripple’s Legal Battles and SEC Appeal Threats Cloud XRP’s Future

SEC Settlement and Plans to Appeal Against the Programmatic Sales of XRP Ruling

In October 2023, Judge Anlisa Torres denied the SEC’s Motion for Interlocutory Appeal, which was filed in August to challenge the ruling on the Programmatic Sales of XRP. The ruling in July 2023 by Judge Analisa Torres stated that the programmatic sales of XRP did not meet the third prong of the Howey Test.

The court’s decision on the Motion for Interlocutory Appeal means that the SEC will have to wait until the Ripple case concludes before filing any appeals. The possibility of a settlement would put an end to the SEC’s plans to appeal the Programmatic Sales of XRP ruling, causing uncertainty for investors.

The SEC’s intention to appeal continues to weigh on XRP, and the approval of an XRP-spot ETF could be delayed until after the appeals process is completed. In addition to the SEC vs. Ripple case and appeal plans, uncertainty surrounding the Federal Reserve’s rate path has also contributed to losses. Despite recent US inflation and retail sales data, FOMC Members have not shown a clear stance on interest rate cuts, leading to speculation about the Fed’s future rate path.

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