Despite Gary Gensler’s departure, the SEC remains persistent, pushing forward with its appeal. However, Ripple’s legal team remains confident, arguing that the SEC’s case lacks new evidence and is merely a repetition of past arguments. Legal expert Jeremy Hogan also criticized the SEC’s approach, emphasizing that they have yet to prove that XRP buyers expected profits solely from Ripple’s efforts.
Former SEC attorney Marc Fagel weighed in, stating that it’s common for legal teams to seek maximum time for responses. He also hinted that Ripple might be strategically waiting for a new SEC leadership to potentially resolve the case before filing their official response.
If the SEC wins the appeal and XRP is classified as a security, Ripple could face tighter regulations and potential setbacks in global expansion. This ruling could affect their growth, particularly in Asia, Europe, and the Middle East. However, Ripple has already gained strong traction internationally, with its cross-border payment solutions continuing to lead the market.
For now, XRP investors remain in wait-and-watch mode, as the legal battle shows no signs of concluding anytime soon.