Story Highlights
- Charles Gasparino warns XRP holders of potential financial losses due to Ripple's legal issues with the SEC.
- Ripple's ongoing legal battle with the SEC casts uncertainty on XRP's market performance.
- Judge Analisa Torres found Ripple's institutional sales violated laws, but secondary sales of XRP were not investment contracts.
Charles Gasparino, a Fox Business reporter, has issued a warning to XRP holders. He suggests that Ripple’s ongoing legal challenges could affect their wealth. As per Gasparino’s post on the X social network, XRP investors stand to suffer financial losses. He derives this from the uncertain victory of Ripple in the legal war against the SEC.
The relationship between Ripple and its token, XRP, has been up for review for a number of years. The legal conflict of the company against the United States Securities and Exchange Commission (SEC) is at the heart of this matter. The fact that Ripple has failed to resolve its legal issues with the SEC is the foundation of Gasparino’s pessimistic view. There are still uncertainties regarding the legal problems that have influenced XRP’s market performance.
Ripple’s Mixed Legal Outcomes
The legal fight made a huge turn after a decision by U.S. District Judge Analisa Torres. She discovered that Ripple’s institutional sales violated the law. However, she also held that secondary XRP sales did not qualify as investment contracts. Ripple’s partial victory saw XRP’s price spike in July for just a moment.
Although the ruling was in their favor, the price of XRP has yet to hold onto the gains. It briefly went beyond $0.8 but now is trading at $0.62. This drop came even though the entire market went up, with Bitcoin at the lead. Investor caution about the situation has caused XRP to have difficulty getting back to its post-ruling high.
XRP Under Pressure Amid SEC’s Legal Pursuit
It is suggested that the SEC will file an appeal to Judge Torres’s ruling. This action is among its wider policies regarding cryptocurrency regulation. The SEC’s offensive approach doesn’t stop at Ripple but also affects Ethereum. Gasparino thinks that XRP will remain under the control of the SEC.
Recommended Articles
Apart from the appeal, Ripple may be liable for a penalty in excess of $2 billion. This derives from the SEC’s most recent move. The pressure of such a financial nature could greatly affect Ripple’s activity and the market value of XRP. With the legal saga in progress, investors keep an eye on how it will develop for future Bitcoin.
Read Also: FTX Lawsuit: Sam Bankman-Fried lied under oath at trial
- Shiba Inu News: ShibaSwap Migrates To Shibarium Breaks Ethereum Ties
- Newly Created Wallet Withdraws $118M Worth Of Crypto From Binance
- Bitcoin ETF Record Biggest Weekly Outflows Of $328M, What’s Next?
- Binance LUNC Burn: Terra Luna Classic Burn Estimates, LUNC Price to Rally?
- SHIB Price: Shiba Inu Burn Spirals 900%, Price Recovery To $0.0001 Ahead?
- Optimism Price Forecast: Is $OP Ready to Hit $4?
- Bitcoin Price Analysis: Will $BTC Correction Dip Below $60K Support?
- Avalanche Price Forecast: Is a Price Recovery to $50 Realistic in Current Market?
- Dogecoin Buyers Eyes Key Triangle Pattern for Next Price Move
- Crypto Price Prediction: Key Altcoins to Watch as Bitcoin Heading to $60K