XRP News Today: SEC vs. Ripple Verdict Approaches, Market Braces for Impact

However,
Judge
Amy
Berman
Jackson,
presiding
over
the
SEC
vs.
Binance
case,
may
have
influenced
the
SEC’s
plans.

In
June
2024,
Judge
Jackson
dismissed
the
SEC
case
against
Binance,
claiming
that
secondary
sales
of
binance
coin
(BNB)
qualify
as
securities
under
the
Howey
test.
Her
court
order
bolstered
Judge
Torres’s
Programmatic
Sales
of
XRP
ruling,
surmising,

“The
court
is
inclined
to
agree
with
the
approach
of
the
court
in
Ripple
Labs,
since
the
‘it-is-what-it-is’
approach
of
the
SEC
appears
to
be
inconsistent
with
the
clear
Supreme
Court
directives
[…].”

The
SEC’s
decision
to
appeal
may
hinge
on
a
pending
court
ruling
from
the
SEC
vs.
Coinbase
(COIN)
case.

SEC
vs.
Coinbase:
Motion
for
Interlocutory
Appeal

In
April
2024,
Coinbase
filed
a
Motion
for
Interlocutory
Appeal,
requesting
permission
to
appeal
the
Motion
to
Dismiss
(MTD)
ruling.

As
background,
Coinbase
filed
a
Motion
to
Dismiss
in
August
2023,
arguing
that
the
SEC
lacked
the
statutory
authority
to
regulate
US
crypto
exchanges.
In
March
2024,
Judge
Katherine
Failla
denied,
in
large
part,
the
Coinbase
Motion
to
Dismiss,
surmising,

“The
court
concludes
that
because
the
well-placed
allegations
of
the
Complaint
plausibly
support
the
SEC’s
claim
that
Coinbase
operated
as
an
unregistered
intermediary
of
securities,
Defendants’
motion
must
be
denied
in
large
part.”

The
SEC
could
abandon
its
plans
to
appeal
against
the
Programmatic
Sales
of
XRP
ruling
if
Judge
Failla
grants
Coinbase’s
Motion
for
Interlocutory
Appeal.

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Moreover,
XRP
could
break
above
$1.00
if
Ripple
avoids
an
injunction
and
the
SEC
drops
its
plans
to
appeal.

Investors
should
remain
vigilant
as
hopes
for
a
settlement
linger.
Stay
updated
with
our
latest
news
and
analysis
to
manage
exposures
to
XRP
and
the
broader
crypto
market.

XRP
Price
Action