XRP News Today: SEC vs. Ripple Verdict Approaches, Market Braces for Impact

However, Judge Amy Berman Jackson, presiding over the SEC vs. Binance case, may have influenced the SEC’s plans.

In June 2024, Judge Jackson dismissed the SEC case against Binance, claiming that secondary sales of binance coin (BNB) qualify as securities under the Howey test. Her court order bolstered Judge Torres’s Programmatic Sales of XRP ruling, surmising,

“The court is inclined to agree with the approach of the court in Ripple Labs, since the ‘it-is-what-it-is’ approach of the SEC appears to be inconsistent with the clear Supreme Court directives […].”

The SEC’s decision to appeal may hinge on a pending court ruling from the SEC vs. Coinbase (COIN) case.

SEC vs. Coinbase: Motion for Interlocutory Appeal

In April 2024, Coinbase filed a Motion for Interlocutory Appeal, requesting permission to appeal the Motion to Dismiss (MTD) ruling.

As background, Coinbase filed a Motion to Dismiss in August 2023, arguing that the SEC lacked the statutory authority to regulate US crypto exchanges. In March 2024, Judge Katherine Failla denied, in large part, the Coinbase Motion to Dismiss, surmising,

“The court concludes that because the well-placed allegations of the Complaint plausibly support the SEC’s claim that Coinbase operated as an unregistered intermediary of securities, Defendants’ motion must be denied in large part.”

The SEC could abandon its plans to appeal against the Programmatic Sales of XRP ruling if Judge Failla grants Coinbase’s Motion for Interlocutory Appeal.

Moreover, XRP could break above $1.00 if Ripple avoids an injunction and the SEC drops its plans to appeal.

Investors should remain vigilant as hopes for a settlement linger. Stay updated with our latest news and analysis to manage exposures to XRP and the broader crypto market.

XRP Price Action