Former SEC chief trusts the commission would lose if it appeals XRP ruling

July 23, 2023 12:06 PM AEST | By Invezz

Former SEC chief trusts the commission would lose if it appeals XRP ruling — Image source: Invezz

SEC can certainly lose an appeal

Stark stated that the commission rarely filed appeals and could lose them. Moreover, many community members weighed on the potential appeal filing by the SEC to overturn the court’s ruling that XRP isn’t a security.

Further, crypto enthusiasts remain bullish on the cross-border transactions altcoin. JC tweeted that the sore losers (regulator) is trying to spread FUD. He advised on HODLing due to massive bullish Ripple news.

Come on guys, the sec is only trying to create FUD. They are sore losers. They’ll never win an appeal even if they make one.

There is so much bullish news for $XRP right now. I’m HODL
— JC (@jc_crypto2025) July 23, 2023

Meanwhile, Stark highlighted a recent case where the SEC lost against the United States Supreme Court. Nonetheless, he added that the regulator aims to ensure a secure environment for investors. He stated,

“…SEC appeals (even when I fiercely disagree with them) are about trying to do the right thing for investors.”

Pro-XRP lawyers also share similar views on Ripple vs. SEC battle. For instance, John Deaton trusts the ruling was legitimate since Analisa Torres only used the Howey test to determine whether XRP is a security.

“Judge Torres did not weigh any other factor other than applying the Howey test… The SEC will lose on appeal…”

XRP price outlook

While the United States retains an ambiguous landscape for the crypto business despite Ripple’s partial win, enthusiasts are highly bullish on the market. Cryptocurrency influencer Ben Armstrong made a massive forecast for XRP, eying $15 in the next 18 months before clearing the path to $35.

Armstrong trusts the much-awaited Initial Public Offering would catalyze a remarkable uptick for the remittance token. Invezz.com reported how IPO speculations emerged after Nasdaq appreciated Ripple for the Metaco acquisition (read more here).

Cryptocurrency prices flashed bearishness today, with Bitcoin losing 0.18% over the last 24hrs to $29,877.84. The fourth-largest crypto, XRP, seems the most hit on the daily chart as it lost 4.51% within the past day to $0.7364. However, the future remain promisin.

The post Former SEC chief trusts the commission would lose if it appeals XRP ruling appeared first on Invezz.

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