CandleFocus XRP Lawsuit: Ripple CLO Says SEC’s ‘Rehashed’ Appeal Will be Abandoned Under Atkins
2025-01-16
Author: Content Editor
The Securities and Exchange Commission (SEC) has filed an opening brief in its appeal to the US Court of Appeals for the 2nd Circuit, aiming to reverse a previous court decision that classified XRP as not a security when sold to retail investors. Ripple's executives, including CLO Stuart Alderoty and CEO Brad Garlinghouse, expressed disappointment and criticized the SEC's arguments. Despite the legal uncertainty, XRP saw a 14% increase and reached a yearly high above $3, outperforming Bitcoin. Analysts are optimistic about XRP's future price gains, with some predicting it could reach $4 or higher.
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