Ripple Wins SEC, XRP Poised To Run
The Ripple-based token entered showed high positivity after Ripple’s minor win in its ongoing legal battle with the SEC.
A federal judge approved an administrative motion to file certain documents under seal to protect sensitive information in the ongoing legal battle on January 11. XRP looks poised to rise 50% in the coming days after breaking out of its prevailing bullish run after posting a 10% gain on Saturday
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The judge specifically agreed to seal documents linked to Ripple’s motion for summary judgment that contained sensitive, private, and personally identifiable information.
The decision challenges important decisions in the Ripple case, and the SEC has until January 15 to submit its opening brief in support of the appeal. The SEC announced plans to challenge the Summary Judgment in its Notice of Appeal in October, citing Judge Analisa Torres’ ruling that XRP’s regular sales did not satisfy the requirements of the Howey Test.
The financial watchdog seems determined to pursue the appeal even though SEC Chair Gary Gensler is leaving on January 20 and former Commissioner Paul Atkins is anticipated to succeed him. Perhaps to maintain case continuity, Gensler promoted senior crypto-enforcement attorneys in December 2024.
Judge Analisa Torres’ ruling that XRP’s regular sales did not satisfy the requirements of the Howey Test was one of the plans the SEC disclosed in its October Notice of Appeal to challenge the Summary Judgment. Because of this appeal, the price of XRP has fluctuated since July 2023.
SEC Chair Gary Gensler is expected to leave on January 20 and be replaced by former Commissioner Paul Atkins despite the agency’s apparent commitment to pursuing the appeal. Gensler promoted senior crypto-enforcement attorneys in December 2024, possibly to maintain case continuity.
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