Judge Analisa Torres has granted the SEC's motion for an interlocutory appeal in the ongoing Ripple Labs case. If you are confused about the history of the SEC vs. Ripple case, let's first recap it and then see what to expect next. In case you do not really know about Ripple, you can also check out our article.
A brief review
August 9: The SEC files a motion to initiate an appeal;
August 16: Ripple sends a letter to Judge Analisa Torres, asking her not to accept the SEC's motion. In the letter, the company gives three arguments against accepting it;
August 17: The judge grants the SEC permission to proceed with the appeal (we are here now!).
What comes next?
Now, the SEC has until the end of August 18 to formally file the appeal with the U.S. Court of Appeals. Ripple Labs can also appeal the decision until September 1 of this year, as the document states.
It is important to clarify that the judge did not actually accept the SEC's appeal but only granted the permission.
Regarding the case itself, the next jury hearing is scheduled for the second quarter of 2024. We have already written about it here.
What about XRP’s price?
Following the recent market dump and the SEC’s appeal, XRP has lost almost all of its growth due to the partial victory in court. Currently, the asset is trading at around $0.5, but yesterday the price was only as high as $0.425.
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