BitBoy, a well-known crypto expert, remains bullish on XRP despite the recent actions taken by the SEC against Ripple. While XRP experienced a slight drop in price following the SEC’s filing, BitBoy expressed confidence that XRP will still experience significant price gains in the future.
The SEC recently submitted a Form C statement outlining its appeal against Judge Analisa Torres’s ruling that XRP sales on exchanges are not investment contracts. They are also seeking to reinstate charges against Ripple executives Chris Larsen and Brad Garlinghouse and contesting the court’s verdict on Ripple’s use of XRP as a payment method.
BitBoy addressed concerns from XRP investors, acknowledging the SEC’s actions but stating that they will not have a significant impact on XRP’s price appreciation. He believes that XRP will “still moon” regardless of the ongoing legal battles with the SEC.
Importantly, the ongoing appeal does not challenge the ruling that XRP is not a security. The SEC’s filing referred to XRP as a “crypto asset” rather than a “crypto asset security.” This implies that exchanges listing XRP since the July 2023 summary judgment are not obligated to delist it, providing reassurance to XRP holders.
Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed that the ruling stating “XRP is not a security” stands as the law of the land. This further supports the notion that XRP’s potential for a bull run remains intact despite the legal proceedings.
In summary, BitBoy remains optimistic about XRP’s future despite the SEC’s actions, emphasizing that XRP will continue to experience significant growth in value.