Ripple requests an extension until April 16, 2025, to respond to the SEC’s appeal in the ongoing legal battle. Legal experts believe the case may be weakened and could see resolution under new SEC leadership.
The court battle between Ripple and the SEC is one of the most important cases in the cryptocurrency industry. Ripple has asked for more time until April 16, 2025, to reply to the SEC’s appeal.
This could create more volatility for XRP for a while. Even though the SEC filed an appeal after Gary Gensler left, The company’s legal team is determined. They think the SEC’s arguments are old and are hopeful that a new government might choose to drop the case.
Legal expert Jeremy Hogan has criticized the SEC’s approach, saying they haven’t shown that people who bought XRP were hoping to make money from Ripple’s work. The situation is still uncertain and not resolved.
Former SEC lawyer Marc Fagel said that it’s normal for lawyers to ask for more time, commenting on the company’s request for an extra deadline. He also mentioned that the company might be getting ready for new leaders at the SEC to possibly settle the case before they need to respond.
This is important because if the SEC wins and XRP is seen as a security, Ripple might face more legal problems that could slow down its growth and spread in the market.
The company’s influence in places like Asia, the Middle East, and Europe could be affected, which may slow down their growth. On the other hand, Ripple’s payment options for international transactions are still very effective and competitive in the cryptocurrency market.
