Ripple's Legal Battle against SEC: Insight on Potential Connection between Ripple Lawsuit and Proposed Crypto ETFs
Loosened downstairs! 💩
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Get your daily crypto news fix on Google News with U.TODAY! Bill Morgan, a well-known crypto enthusiast lawyer, offers his thoughts on the SEC's mysterious delay in judgement regarding XRP and crypto ETF filings. Notably, the SEC has postponed its decision on the Franklin Templeton-associated spot XRP ETF till June 17, 2025.
The SEC's peculiar timing:
In his article on X, Morgan points out that the revised date aligns with the due date for a status report in the SEC vs. Ripple lawsuit appeal case. He infers that the timing might be odd or deliberate.
According to Judge Alex Dovbnya's assertion on April 16, the SEC had to file a status report on the Ripple lawsuit appeal within 60 days, setting the deadline for around June 15, a mere two days before the Franklin Templeton filing decision.
Maximizing the potential of this situation, Morgan hypothesizes that the SEC might be waiting for the Ripple lawsuit's conclusion before making a decision on the XRP ETF. Consequently, the SEC is apparently seeking to save time in processing pending applications.
Although the SEC, now led by a pro-crypto chair, Paul Atkins, has sparked anticipation in the crypto community, there is eagerness to witness the outcome of the Ripple lawsuit. A favorable resolution could launch a precedent and crystalize legalities for XRP and the entire cryptocurrency space.
Is the Ripple lawsuit going to sculpt ETF terrain?
Crypto enthusiasts, especially XRP investors, are excited about settling the lawsuit. Many contend that the duration of the appeal is constraining XRP's capacity to grow alongside its peers. They argue that the affirmation of an XRP ETF will further amplify adoption, impacting the price positively.
More XRP ETF hype debunked by Bloomberg! Alex Dovbnya When Brad Garlinghouse, Ripple Labs' CEO, shared his anticipation of the SEC abandoning its case in March, the market reacted enthusiastically. XRP's price skyrocketed by approximately 14% to $2.59, as investors hopped on the crypto bandwagon.
As of now, XRP is trading at $2.19, representing a 3.56% dip in the last 24 hours. Despite the minor 2.10% surge in trading volume to $3.04 billion, market participants are hopeful for a rebound.
#XRP ETF #ripple
- In light of the SEC's postponement of its decision on the Franklin Templeton-associated spot XRP ETF until June 17, 2025, Bill Morgan, a crypto enthusiast lawyer, speculates that the SEC might be waiting for the Ripple lawsuit's conclusion before making a decision.
- Crypto enthusiasts, especially XRP investors, are excited about settling the Ripple lawsuit as it could launch a precedent and crystalize legalities for XRP and the entire cryptocurrency space.
- Morgan hypothesizes that the affirmation of an XRP ETF will further amplify adoption, impacting the price positively and helping XRP grow alongside its peers.
- In the crypto finance sector, there are ongoing rumors that the Ripple lawsuit could sculpt the ETF terrain, as a favorable resolution could pave the way for a more positive regulatory stance towards securities like XRP.
- Despite the recent dip in XRP's price, market participants remain hopeful for a rebound, anticipating a positive outcome from the Ripple lawsuit and potential ETF approval in the future.
