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XRP News Today: SEC vs. Ripple Case Update, US Politics, and Market Impact
There have been no updates since SEC case against Ripple to influence buyer demand for XRP. However, an upcoming court ruling on the fine Ripple must pay for violating US securities laws has remained a market focus.
After the court ruling, investors expect the SEC to appeal against the programmatic sales of XRP dominantIn July 2023, Judge Analisa Torres ruled that programmatic sales of XRP did not meet the third requirement of the Howey test.
Shortly after the ruling, the SEC filed a Cross-appeal motionThe SEC filed the motion, seeking permission to appeal the ruling on programmatic sales of XRP. Judge Torres rejected the motion for interlocutory appeal in October, forcing the SEC to wait until the final verdict to file any appeals.
Barring brief bouts of optimism towards the likely outcome of an appeal, XRP remains shackled below the $0.60 mark.
However, the US election could alter the SEC’s stance against crypto firms, with Republicans pushing for a cryptocurrency vote.
Super PAC Fairshake makes its presence known
In recent weeks, crypto firms including Ripple and Coinbase (CURRENCY), donated to Fairshake Super PAC. Ripple and Coinbase donated $25 million each. According to the Fairshake website, it aims to support candidates committed to ensuring that the United States is home to innovators building the next generation of the Internet.