In a video posted on YouTube, crypto analyst Mattew Perry discusses the possibility of the SEC appealing the case against Ripple, a topic of intense speculation this period.
Perry noted that the appeals’ deadline is approaching in early October, and investors are anxiously awaiting the SEC’s decision, as it could have a sound effect on XRP’s market performance.
The SEC’s Appeal Deadline and Its Possible Impacts
Matthew Perry mentioned that the SEC has until October 6th to decide whether they will file an appeal. Meanwhile, some investors are worried that if anything changes the court’s decision, XRP’s price might see a dip.
XRP’s price is currently trading at $0.59, with a market cap of $33.2 billion. But because the court case isn’t fully settled, the whales are being careful. Moreover, some people think the SEC might be trying to slow XRP down so other similar projects can catch up.
While Ripple publicly stated they do not plan to appeal, the SEC might still do so. This could make investors wait even longer for a resolution. Many investors are already frustrated because they’ve been waiting for over four years.
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Show more +XRP’s Price Market Performance Amid Uncertainty
Despite the looming possibility of an appeal, XRP’s price has maintained a stable market performance. Perry highlights that XRP’s daily trading volume hovers around $1 billion, with a market cap-to-volume ratio of approximately 3%, a solid figure given the current legal circumstances.
However, this stability could be disrupted if the SEC proceeds with an appeal, leading to further dips in price. These legal uncertainties have left some speculating that the SEC may be working to protect institutional interests, potentially at the expense of retail investors.
Ripple’s Stand and Potential Outcomes
Ripple’s leadership remains firm on their position, stating they see the case as closed from their end. However, Perry’s analysis points out that if the SEC chooses to appeal, Ripple may need to settle the case, with a settlement figure of $125 million being floated in discussions.
While Ripple remains confident, investors are wary of the consequences an appeal could bring. However, if the SEC does not appeal, the XRP’s price could experience a substantial rise as investor confidence grows.
On the other hand, should the appeal move forward, it may cause another price drop as investors may move away from the asset amid prolonged uncertainty.
Read Also: Is $600 Bittensor’s Local Top? Expert Warns Against Buying TAO Now, Predicts Potential Price Dip
Investors’ Sentiment as Appeal Deadline Approaches
As the deadline approaches, XRP holders are eager for a resolution. This long haul has led to growing frustration among investors, some of whom have started considering shifting to other assets.
Finally, Perry’s analysis emphasizes that the SEC’s next move will be pivotal for XRP’s future trajectory, making it essential for investors to monitor the situation closely.
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