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SEC's Appeal Raises Concerns About XRP's Path to $1

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The SEC's decision to appeal the court's ruling on XRP raises questions about the token's potential disruption. Previously, there were predictions of XRP surging to $1, but it has not met those expectations. If the appeal goes in favor of the SEC, it could have a negative impact on XRP's value and the activity on the XRP Ledger. The appeal's outcome may decrease the daily amount of XRPL transactions.

Before the SEC’s decision to appeal the previous ruling, Judge Torres, the judge in charge of the case, had approved the motion for aBut now the regulatory agency’s action has changed the course of the case, will XRP be affected? Previously, when the euphoria around the XRP win was considerably high, there were several predictions that the token could surge much higher than itsHowever, XRP has not been able to meet up with the projection despite the impressive rally at some point.

First off, since XRP’s win, activity on the XRP Ledger has been quite impressive. And according to Whale Chart, there has been an average of 1.2 million transactions on the ledger since August began. The XRPL is Ripple’s decentralized public blockchain which helps in the verification and confirmation of XRP transactions. Besides the law ofIf the appeal ends in a judgment reversal, then the daily amount of XRPL

, as shown below, may decrease. And if this happens, XRP may also fall from the $0.62 region it has been holding on to dearly.

 

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