Grab your popcorn, folks, because the courtroom drama between the SEC and Ripple Labs just got juicier! The SEC has officially thrown down the gauntlet and filed an appeal in their high-stakes showdown against Ripple Labs. This move has been brewing for a while, with many onlookers betting that the SEC might just let it slide, thinking their odds of a win were a little too slim for comfort.
The shockwaves of this decision sent Ripple's XRP plummeting by over 12%, leaving traders clutching their pearls in surprise. Now, legal eagle Fred Rispoli has stepped into the ring to weigh in on whether the SEC might just pull off a last-minute victory dance.
Let's rewind a bit: Judge Torres previously ruled that while institutional sales of XRP are investment contracts, the programmatic sales on exchanges aren't. Plus, she slashed the SEC's proposed fines by a whopping 90%! Talk about a plot twist!
On a recent episode of the “Thinking Crypto” podcast, Rispoli spilled the beans on what could tip the scales in the SEC's favor. He suggests that the SEC's chances hinge on who's sitting on the case panel. If they're a crew known for backing the government, the SEC could see their victory odds skyrocket to 70 or even 80%.
But there's a mystery afoot—the SEC hasn't yet revealed which part of the ruling they're challenging. This tantalizing detail could be the key to unlocking the case's outcome. Stay tuned, because this legal thriller is far from over!
