XRP is experiencing bearish pressure amid Ripple's ongoing legal challenges with the SEC. The company is actively engaged in this lengthy lawsuit by filing a cross-appeal, signaling its intention to address key issues in the legal proceedings.
On October 24, 2024, Ripple submitted a Form C, which outlines the main points to be argued in the appeal. This development highlights Ripple’s continuing legal strategy and determination to navigate the complex regulatory landscape.
The case is closely watched by the crypto community, influencing XRP's market performance and investor sentiment. Ripple’s Chief Legal Officer emphasized these legal efforts on social media, showcasing the company's commitment despite current market conditions.
