Ripple and the SEC are caught in a significant legal battle in the U.S., with fresh developments emerging. Recently, Judge Analisa Torres refused a collective request from Ripple and the SEC for an “indicative ruling,” thus upholding her earlier verdict. This decision ensures that the appeals schedule will proceed as originally planned. Legal professionals argue that the ruling will not interfere with XRP‘s secondary market activity or disrupt any plans for launching a potential exchange-traded fund (ETF).
What Does the Denied Request Mean?
The joint effort by Ripple and the SEC to gain leniency on an earlier verdict was opposed by Judge Torres, who saw no grounds for reconsideration. Her position leaves the case status as it is and allows the appeals timeline to remain steady. The potential for immediate alterations to the case remains restrained, keeping the legal process focused.
Will XRP ETF Approval Follow?
Bloomberg specialists anticipate an 85% likelihood for the approval of an XRP ETF this year. Increased market valuation, growing investor interest, and anticipated resolutions of regulatory ambiguities drive this optimism. The judge’s decision did not deter these prospects but instead clarified the legal path forward.
According to legal expert Fred Rispoli, the ongoing injunction is up to the SEC to enforce, which allows XRP to be traded in secondary markets without restrictions. He also suggested that the SEC might offer Ripple necessary exemptions, assisting in the potential ETF approval.
XRP investors are on high alert for the SEC’s future enforcement tactics. While the rejection doesn’t fast-track appeals, it restricts fresh document entries, narrowing the potential alterations in the legal fight. XRP’s market price continues to react to news from the courtroom.
Institutional entities are taking preemptive steps, betting on XRP despite legal uncertainty. Financial organizations are already moving forward with preparatory actions for registration, anticipating an outcome that aligns with investor forecasts.
Key takeaways include:
- Judge Torres’ decision maintains the current case trajectory.
- XRP’s secondary trading remains unaffected for now.
- Investor sentiment favors a positive outcome for XRP’s ETF.
- Institutional interest in XRP persists despite ongoing legal disputes.
The legal impasse between Ripple and the SEC remains a closely watched case, with significant implications for the future of cryptocurrency regulation and market structure. As the battle proceeds, market participants are on edge, ready to respond to any shifts that might arise from the courtroom. XRP’s journey remains under scrutiny, with all eyes focused on the SEC’s next steps.
