$XRP

In August, the long legal battle between Ripple and XRP seemed to have taken a turn for the better, but it was quickly overshadowed by the possible appeal by the U.S. Securities and Exchange Commission (SEC). According to a former SEC internal lawyer, the agency was deeply dissatisfied with the recent ruling on the non-securitization of XRP, believing that the ruling was "both wrong and illegal", and clearly stated that it would appeal as the next step, which undoubtedly pushed the future of XRP into uncertainty again.

Although Judge Torres' ruling cleared the obstacles for Ripple's institutional sales of XRP to be identified as securitization, the exemption ruling for programmatic sales of XRP has aroused a strong backlash from the SEC and has become a pain point that it is difficult to accept. As the October 7 appeal deadline approaches, every step of the SEC's actions has aroused great attention and tension in the cryptocurrency field.

The reaction within the XRP community is complicated, with both joy and celebration of the initial victory and deep concerns about future uncertainties. Well-known lawyer Jeremy Hogan bluntly criticized the SEC's insistence on its position, questioning whether it has deviated from its original intention of protecting investors and promoting the healthy development of the capital market.

Although Ripple's chief legal officer has announced a phased victory and mentioned that the SEC apologized for the previous misjudgment, the fruits of victory still seem to be shaky and unsettled. Both parties are currently holding the weapon of appeal, and the 60-day countdown has become a critical period for both parties' psychological tactics and strategic layout.

At this moment, the future of XRP is no longer a clear and identifiable direction, but is surrounded by many variables. Whether the SEC can reverse the situation or Ripple can laugh to the end, everything will be gradually revealed after the decisive appeal deadline. All eyes in the cryptocurrency world are now focused on this legal battle that may rewrite the history of the industry.