Despite some analysts noting why XRP is unlikely to end on a high, certain macro (and micro) factors could significantly impact the token’s price and possibly see it enjoy the same trajectory it did following Judge Analisa Torres’ ruling in favor of Ripple.
SEC-Related Factors Could Impact XRP Price
On August 17, the US Securities and Exchange Commission (SEC) was given approval by Judge Analisa Torres to file its motion seeking an interlocutory appeal against her ruling at the Court of Appeals.
However, this wasn’t an approval of the SEC’s appeal, and that is something that everyone in the XRP community is currently anticipating, as the court can either choose to accept or reject the appeal after considering the grounds for appeal and whether it meets the requirements needed to allow it.
As a former SEC official Marc Fogel noted, the specific requirements for an interlocutory appeal are “hard to meet,” and the odds seem to be against the SEC. As such, the court is expected to deny the SEC’s request for an interlocutory appeal.
If that happens, we could see XRP again enjoy most of the gains it saw following Judge Torres’ ruling when the token’s market cap rose significantly, overtaking Binance’s BNB to become the fourth-largest crypto by market cap (although it has dropped back to 5th).
Another factor that could spark an upward trend for XRP is if a settlement between Ripple and the SEC becomes more feasible. Stakeholders in the crypto community have commented on the possibility of this happening and factors that could prompt both parties to settle.
Pro-XRP legal expert John Deaton once stated that a settlement could happen this year if Judge Failla granted Coinbase’s motion to dismiss the SEC’s lawsuit against it. If that were to happen, the Judge would likely be adopting Judge Torres’ ruling that programmatic sales do not constitute investment contracts and crypto tokens bought through exchanges cannot be labeled as one.
It is believed that this could force the SEC into settling as it will become more established (especially if its interlocutory appeal was rejected alongside) that it doesn’t have jurisdiction over token sales on exchanges as they do not constitute investment contracts.
A more interesting factor that could force the SEC into a settlement is the revelations (and future ones) being made about the ETH Gate. As a form of damage control, the Commission could propose a…
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