Despite uncertainties surrounding the XRP token, there are certain macro and micro factors that could potentially influence its price trajectory. On August 17, Judge Analisa Torres granted approval to the US Securities and Exchange Commission (SEC) to file a motion seeking an interlocutory appeal against her ruling. This decision by the court has sparked anticipation within the XRP community as it awaits the final decision on the appeal. With the specific requirements for an interlocutory appeal being challenging to meet, the odds seem to be against the SEC. If the court denies the SEC’s request for an appeal, it could result in a significant upward trend for XRP, similar to the gains observed following Judge Torres’ favorable ruling.
Another potential factor that could trigger an upward trend for XRP is the likelihood of a settlement between Ripple and the SEC. Speculations have been circulating within the crypto community regarding the feasibility of such a settlement and the factors that could prompt both parties to reach an agreement. Legal expert John Deaton has suggested that a settlement could occur this year if Judge Failla grants Coinbase’s motion to dismiss the SEC’s lawsuit against it. This scenario would likely involve the adoption of Judge Torres’ ruling, which states that programmatic sales do not constitute investment contracts and that crypto tokens bought through exchanges cannot be labeled as such. A settlement could potentially force the SEC to acknowledge that it lacks jurisdiction over token sales on exchanges, further strengthening Ripple’s position. This development would restore investors’ confidence in the ecosystem and potentially lead to a price increase in the XRP token.
The revelations surrounding the ETH Gate could also play a significant role in the SEC’s decision-making process. As a means of damage control, the Commission might propose a settlement with Ripple instead of proceeding to trial. This strategic move aims to protect the SEC’s credibility, which could be at stake during a trial. Ripple stands to benefit if the SEC proposes a settlement, as it would be regarded as a significant victory for the company. Such a settlement could restore investors’ trust in the ecosystem and contribute to a potential price increase in the XRP token.
Despite the ongoing legal battle with the SEC, Ripple has demonstrated resilience and continued to expand its business operations. Monica Lang, the company’s President, emphasized that the court case, particularly Judge Torres’ ruling, has provided clarity in a regulatory uncertain environment. This clarity enables Ripple to devise a comprehensive framework for future operations, considering that Judge Torres declared XRP not to be a security. Building on this favorable ruling, Ripple’s general counsel, Stuart Alderoty, hinted at potential talks with US financial firms regarding the adoption of Ripple’s On-Demand Liquidity (ODL) product. The introduction of ODL for facilitating cross-border transactions could serve as a bullish signal for the XRP community, showcasing Ripple’s commitment to penetrate the American market further.
Rumors have been circulating about Ripple’s plans to go public, with speculation of an initial public offering (IPO) announcement at the company’s upcoming event in New York on September 29. Such an announcement would be significant and could generate substantial excitement and interest in the company. The positive reception of this news could potentially lead to an increase in the price of XRP.
Several factors have the potential to impact the future price of XRP. The outcome of the SEC’s appeal, the possibility of a Ripple-SEC settlement, the implications of the ETH Gate revelations, Ripple’s resilience amidst the legal battle, and the potential announcement of an IPO all have the power to influence the trajectory of XRP. As the crypto community eagerly awaits the resolution of these factors, XRP investors remain hopeful for a positive outcome that could contribute to a sustained upward trend in the token’s value.