TL;DR
- Ripple and the SEC are entering a new stage in their legal battle, with filings and appeals prolonging the case.
- Bitcoin momentarily crossed $68,000, sparking enthusiasm about a possible bull market, with some experts forecasting new record highs.
- Dogecoin surged to nearly $0.13, garnering interest with some ambitious, if unlikely, predictions for further increases.
What to Anticipate from the Ripple v. SEC Case?
The upcoming days are expected to be quite significant for the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC). According to Stuart Alderoty (Ripple’s Chief Legal Officer), the agency has until today (October 17) to submit Form C, “which will outline its plans for appeal.”
Following this, Ripple will have a week to submit its own Form C that should include additional details regarding its cross-appeal.
Once these steps are completed, both parties need to agree on a briefing timeline. The SEC will have 90 days to file its initial brief, while Ripple will respond soon after. Alderoty anticipates that the entire briefing process will extend through July 2025.
Recently, Fred Rispoli (a U.S. attorney keeping up with the case) expressed his views on the SEC’s next likely move. He believes the Commission may appeal Judge Torres’ ruling on “programmatic sales,” “other distribution,” “ not allowing disgorgement, and the “insufficient“ fine of $125 million.
“There’s even the possibility that the SEC will appeal the assertion that XRP itself isn’t a security,” he noted. “The SEC definitely won’t win on this, but they might still include a few paragraphs in an appellate brief,” he concluded.
BTC Comeback
The leading cryptocurrency has been experiencing a surge over the last few days, surpassing $68,000 on October 16. Shortly after, it pulled back slightly to about $67,300, but bull support appears to be strong.
Crypto X features numerous analysts who believe this resurgence could mark the beginning of a significant bull market. Ali Martinez, for example, envisions a spike to a new all-time high of around $86,600 if BTC surpasses the $67,400 resistance level.
Captain Faibik and Crypto Rover are even more bullish. The former anticipates a climb to $90K if BTC “successfully breaks out of the broadening wedge upwards,” while Crypto Rover set a target of $100K for BTC if Donald Trump wins the upcoming presidential elections.
DOGE’s Remarkable Rise
Another cryptocurrency showing significant gains recently is the largest meme coin by market capitalization—Dogecoin (DOGE). It soared to nearly $0.13 on October 16 and is now trading around $0.12.
This rally has drawn the attention of many industry experts, some of whom anticipate continued growth. Ali Martinez shared a chart illustrating that DOGE could potentially skyrocket to $10.
However, for such a price surge to occur, its market cap would need to reach a staggering $1.4 trillion, making this prediction rather improbable.
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