The Ripple and SEC lawsuit has lasted nearly a decade without resolution even though Ripple has decided not to appeal. The process of concluding the lawsuit will still take time, affecting the price movement of XRP and community expectations.
MAIN CONTENT
The SEC's appeal withdrawal process must go through many steps and does not happen immediately.
The SEC's closed meeting on July 3 sparked hope for ending the Ripple lawsuit.
XRP prices fluctuate around legal information, with investors cautiously awaiting the final outcome.
How does the appeal withdrawal process for Ripple vs SEC proceed?
According to Marc Fagel – former SEC attorney, the SEC's withdrawal of the appeal is not automatic but must go through internal steps and full legal procedures, taking several weeks or longer.
Legal experts state: first, the SEC must internally vote to agree to drop the appeal. Next, both the SEC and Ripple need to file to complete the official appeal withdrawal procedure. Only when this process is complete will the court's preliminary ruling take full effect.
"The appeal withdrawal process takes time and usually does not happen immediately; the parties must complete all procedures to be recognized," said Marc Fagel, former SEC attorney, 2024.
Marc Fagel – Former SEC attorney, Twitter, 2024
Therefore, even though Ripple announced it will not appeal, the lawsuit is still pending procedural handling. This makes the official end time of the lawsuit unclear, only expected to be a few weeks.
How might the SEC meeting on July 3 affect things?
The XRP community and observers are watching the SEC's closed meeting scheduled for July 3, hoping this will be a step towards ending the legal dispute.
Some hypotheses suggest that this meeting could prompt the SEC to drop the appeal; however, SEC procedural experts believe this may just be a regular meeting, not necessarily directly related to Ripple.
"SEC meetings occur weekly, with diverse content. The conclusion of the Ripple case depends on many complex factors, not just based on a single meeting," said a legal expert on the SEC, 2024.
SEC legal expert, 2024
What will the future price of XRP look like in this context?
Although the lawsuit has no conclusion yet, market sentiment towards XRP remains cautious mixed with hope. Having a clear ruling will help investors better navigate, positively impacting XRP prices in the long term.
Currently, the price of XRP rose by 5% when news of Ripple's non-appeal emerged but then slightly decreased due to concerns that the lawsuit has not actually concluded soon. The community and investors continue to closely monitor announcements from Ripple and the SEC to make informed investment decisions.
Frequently Asked Questions
How much longer will the Ripple vs SEC lawsuit last?
According to experts, it may take several weeks to several months to complete the legal procedures.Why is Ripple not appealing further?
Ripple chooses not to appeal in order to focus on development and minimize legal risks.Is the SEC sure it will drop the appeal?
Currently, the SEC has not officially decided; we must wait for the voting results and the next procedures.How does the lawsuit information affect the price of XRP?
Legal information always has a strong impact on prices, causing large fluctuations and changing investor sentiment.Where should one follow official news?
One should update from legal websites, official reports from Ripple and the SEC to receive accurate news.
Source: https://tintucbitcoin.com/xrp-sec-co-the-bac-kien-3-7/
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