Ripple has dismissed the SEC’s latest appeal as baseless, accusing the regulator of recycling previously failed arguments. The SEC’s Jan. 15 filing seeks to overturn a court ruling favoring Ripple, claiming that XRP sales to retail investors qualify as unregistered securities transactions under the Howey Test.
Ripple’s Chief Legal Officer, Stuart Alderoty, labeled the SEC’s case as “just noise,” emphasizing the company’s resilience and commitment to regulatory clarity.
Brad Garlinghouse criticized the SEC’s persistence, likening it to “insanity.” Ripple plans to formally respond to the brief while focusing on business growth in an evolving regulatory environment.
XRP has achieved a significant recovery, driven by optimism around the SEC’s appeal against Ripple Labs following a 2023 court ruling.
XRP’s value, closely tied to its legal battle since 2020, reflects investor anticipation of regulatory clarity. Market sentiment has further improved with the expected SEC leadership change under President-elect Donald Trump, who may nominate crypto-friendly Paul Atkins as SEC Chair.
Technically, XRP’s breakout above December highs suggests a potential price target of $4.40, supported by increased trading activity and renewed investor interest. The appeal’s outcome could set a pivotal precedent for cryptocurrency regulation in the U.S.
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