SEC Appeal Odds Against Ripple Increase After Recent Development
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Attorney Fred Rispoli, who has been closely following the Ripple-SEC case and sharing new developments and details with the global XRP community via his X account, has published a post with an update.
It shows that now the chances of the securities regulator filing an appeal against Ripple in its ongoing legal case have increased after a recent development.
Yuri Molchan"Odds of SEC appeal have increased"
In a tweet published on Wednesday, the legal expert shared that he believes the chances of the SEC appealing against the recent Ripple wins in court have risen.
In a recent development, federal judge Analisa Torres ruled that Ripple should pay $125 million in fines and penalties to the SEC, instead of the $2 billion fine requested by the regulatory agency.
According to Rispoli, Ripple and the SEC have made an arrangement that 111% of the monetary judgement will be placed into a trust and held. The sum will be paid to the securities commission “only on (1) 30 days after the appeal deadline or (2) after the appeal concludes.”
The attorney said that this does not provide a 100% guarantee that the SEC will indeed appeal. However, putting $125 million in a trust likely means that the “SEC is being evasive to Ripple lawyers as to whether it intends on appealing.”
Fred Rispoli reminded the XRP community that it is “still possible that no appeal happens but odds have increased.”
However, in an earlier tweet, he warned that the community should not be “freaking out” over the possible appeal of the SEC against Ripple. He believes that if it happens, there would not be any ruling until 2026. With the regulator suing multiple crypto exchanges and claiming altcoins to be “crypto securities,” the SEC’s “sting” has “lessened dramatically.”
XRP whales' activity increases
Earlier today, Whale Alert cryptocurrency tracking platform spotted a jaw-dropping crypto transaction that carried an enormous 105,481,561 XRP. It was evaluated as $58,216,178 at the time the transaction was made.
The massive XRP transfer was performed between anonymous blockchain wallets. Earlier, in the past 24 hours, the same blockchain sleuth tracked down two more large transactions. They carried 20,600,000 XRP and 30,360,000 XRP worth $11,549,573 and $16,934,507. Those XRP chunks were deposits made to major cryptocurrency exchanges – Bitso and Bitstamp.
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