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Crypto vs. Dollar

📌 Experts warn investors that XRP won’t get rich and the landmark July ruling could be overturned.

Charles Gasparino of FOX Business analyzed the current legal situation of Ripple and XRP in the United States. In his post X Gasparino suggested that the SEC may appeal Judge Analisa Torres July ruling that Ripple violated federal securities laws by selling XRP to institutional investors rather than retail investors. Xrp

– Charles Gasparino of FOX Business analyzed the current legal situation of Ripple and XRP in the United States. In his post X Gasparino suggested that the SEC may appeal Judge Analisa Torres’ July ruling that Ripple violated federal securities laws by selling XRP to institutional investors rather than retail investors.

Analysts believe that if SEC Chairman Gary Gensler recognizes Ethereum, the second most valuable cryptocurrency on the market, as a security, the SEC will push hard to appeal its shocking defeat against Ripple.

If that happens, Gasparino says, XRP holders “probably won’t get rich off XRP.” He expects investors will end up even poorer, depending on how the legal situation plays out. Based on this assumption, if the SEC succeeds in overturning the court ruling, the price of XRP could enter a death spiral.

Gasparino is confident that the SEC will likely overturn the historic XRP ruling, but Torres previously rejected the regulator’s appeal, and the SEC could still try to argue the overall case even after the April trial.

In another post, Charles Gasparino also noted that BlackRock, the world’s largest asset manager, is unlikely to introduce an XRP spot fund anytime soon. Mr. Gasparino has previously said that the current regulatory uncertainty surrounding the sixth-largest cryptocurrency token is a major hurdle for BlackRock, a Wall Street firm known for its conservatism.

BlackRock’s head of digital assets Robert Mitchnack recently said that bitcoin is “certainly a top priority” for the company.

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