The lack of court rulings left investors considering SEC plans to appeal against the Programmatic Sales of XRP ruling. In July 2023, Judge Analisa Torres ruled that programmatic sales of XRP do not satisfy the third prong of the Howey Test.
In August 2023, the SEC attempted to appeal against the ruling by filing a Motion for Interlocutory Appeal. However, Judge Analisa Torres rejected the motion, forcing the SEC to wait until the end of the remedial phase of the Ripple case. SEC plans for an appeal remain an XRP headwind.
However, a shift in the US political landscape could end the SEC plans to file an appeal.
Ripple CEO Brad Garlinghouse Talks Politics
On Tuesday, Ripple CEO Brad Garlinghouse discussed politics with Tony Romm of the Washington Post. Garlinghouse shared a Tony Romm article on X (formerly Twitter), saying,
“Thanks for chatting Tony Romm. For the first time in US history, crypto voters will be a significant force in this year’s elections. Dems – it’s not too late to abandon Elizabeth Warren’s “anti-crypto army” rhetoric and take a bipartisan stance with your GOP colleagues on innovation – it should never have been political in the first place.”
Crypto recently became a talking point on Capitol Hill, with Republican Party front-runner Donald Trump plugging cryptos, saying,
Read More: XRP News Today: Ripple Navigates SEC Hurdles as Crypto Political Clout Surges
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