SEC Vs Ripple Legal Cases Expected To Continue Until 2026

The XRP vs SEC case is still ongoing. (Photo; Doc. Cafeconcriptos)

JAKARTA - The legal case between the US Securities and Exchange Commission (SEC) and Ripple, the blockchain company behind the XRP cryptocurrency, has yet to find a bright spot. This case could last until 2026 if any party appeals against the court's decision.

Currently, the SEC vs Ripple case is in a phase of improvement, where a court will determine appropriate sanctions to impose on Ripple for unlawful violations through XRP institutional sales. This phase is expected to end around the summer of 2024.

After this phase is complete, Judge Analysis Torres will issue a final decision, which will determine whether XRP is a security or not, and whether Ripple and its executive violate the law or not. This decision will be the basis for parties who wish to appeal.

If an appeal is filed, then this case will be forwarded to the Second Circuit Court, which will re-examine arguments and evidence from both parties. The Second Circuit Court will then issue a decision, which can support or reject the appeal.

If the Second Circuit Court agrees with the reason Judge Torres and no party has brought the case to the Supreme Court, then this case could end in 2025 or 2026. However, if the Second Circuit Court does not agree with Judge Torres's reasons, then the decision could lead to further delays in the settlement of the case.

In this scenario, the Second Circuit Court will return the case to Judge Torres, who must issue a new verdict taking into account the decision of the Second Circuit Court. This process could take up to around 2026.

In addition, one of the parties who feels aggrieved can still appeal against the new decision of Judge Torres, thus requiring the Second Circuit Court to review this case. The potential time for resolving the case in this scenario is also 2026.

Meanwhile, there is a possibility that this case will continue through 2026. This happens if both the SEC and Ripple move the case to the Supreme Court, the highest court in the US, after obtaining an unfavorable decision at the Second Circuit Court.

SEC Vs Ripple Case Impact On XRP Price

The SEC vs Ripple case has had a significant impact on the price of XRP, which is the third largest cryptocurrency in the world. Since the SEC sued Ripple in December 2020, the price of XRP has experienced major fluctuations, depending on the development of the case.

According to data from CoinMarketCap, the price of XRP reached an all-time high in April 2021, namely $1.96 (IDR 30,636.64), driven by market optimism for Ripple's victory in court. However, the price of XRP then fell sharply in May 2021, reaching its lowest level since November 2020, which is $0.65 (IDR 10,158.81), triggered by a decline in the overall crypto market.

At the time of writing, the price of XRP was at $0.51 (Rp 7,970.02), up 0.98% in the last 24 hours. The price of XRP has also fallen 10.03% in the last seven days and 17.47% in the past month. The trading volume of XRP has also increased 23.4% to $1.2 billion (Rp 18.8 trillion) in the last 24 hours.