While the US economic calendar influenced XRP price action, SEC activity, and SEC vs. crypto case-related news remained the focal points for investors.
SEC Silent on Appeal Plans
On Monday, uncertainty about SEC plans to appeal rulings from the SEC vs. Ripple case continued to impact XRP demand.
Will the SEC file an appeal?
The agency has been largely silent since the final judgment on August 7, leaving investors in suspense. On Thursday, August 29, the SEC will hold its next closed meeting. While the SEC may discuss its position regarding an appeal, the agency could wait until the last minute to file any appeals, leaving XRP in limbo.
Ripple Chief Legal Officer Stuart Alderoty recently remarked,
“If the SEC were a rational actor, they should just move on from this case. But we all know that, when it comes to crypto, the SEC has proven itself not to be rational. […] So, I wouldn’t be surprised if the SEC does appeal.”
Read More: XRP News Today: Market Volatility Drives XRP Lower Amid SEC Appeal Concerns