Ripple Case Impact on XRP's Performance in Current Bull Run

2 min read | September 05, 2024 07:58 PM AEST | By Team Kalkine Media

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Ripple Case Impact on XRP's Performance in Current Bull Run — Image source: Shutterstock

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In the cryptocurrency sector, legal expert Fred Rispoli has addressed concerns regarding the potential impact of the ongoing SEC v. Ripple case on XRP’s performance during the current bull run.

Legal Expert Offers Reassurance

Fred Rispoli, a legal expert, has provided reassurance to the cryptocurrency community about the influence of a possible SEC appeal on XRP. According to Rispoli, an appeal in the SEC lawsuit against Ripple is unlikely to affect XRP’s performance in the present bull run. He noted that even if an appeal were filed, a decision from the Second Circuit Court would not be expected until 2026, thereby alleviating immediate concerns.

Decreased Impact of SEC Lawsuit

Rispoli indicated that the negative effects of the SEC lawsuit on XRP have diminished, particularly following the SEC’s recent actions targeting cryptocurrency exchanges. These actions have resulted in the SEC categorizing various assets, including Cardano (ADA) and Solana (SOL), as securities.

As a result, Rispoli suggested that XRP’s performance in the current bull run will be influenced by factors beyond the scope of the SEC lawsuit. He expressed optimism about XRP and Ripple’s potential during this market cycle.

Concerns About Possible Appeal

Rispoli’s comments come in response to rising concerns within the XRP community regarding Ripple’s recent legal maneuvers. Ripple has recently filed a motion to delay the payment of a $125 million fine imposed by Judge Analisa Torres on August 7. The firm plans to transfer 111% of the fine ($138.75 million) to an account controlled by its legal team until 30 days after the appeal period expires.

This motion has sparked fears that an appeal might be imminent, potentially prolonging the legal dispute and affecting XRP's performance during the current bull run. In late 2021, XRP was unable to reach new all-time highs, a situation some attributed to the ongoing lawsuit, which had been initiated the previous year.

Evolving Legal Landscape

Despite these concerns, Rispoli believes that the current legal situation will have less impact on XRP compared to past instances. He asserts that XRP’s price action is now more likely to be driven by broader market factors rather than the ongoing litigation.

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