[ad_1]
\n<\/p>\n
It was a quiet Sunday session, with no crypto events to move the dial. A downward trend in staking inflows reflected mixed sentiment toward the SEC v Ripple Court ruling, with appeal chatter continuing to do the rounds.<\/p>\n
Former SEC attorney John Reed Stark had a less favorable view of the Court ruling. Stark had this to say<\/a> about the Programmatic Sales ruling,<\/p>\n \u201cThe transformation from a token to becoming \u2018not a security\u2019 occurs because the retail trader is presumed not to understand what they\u2019re buying and, as is the case with any securities exchange, not to know specifically who the seller is. This argument seems contrary to sacrosanct and basic investor protection principles.\u201d<\/p>\n<\/blockquote>\n Stark added,<\/p>\n \u201cWhether or not an investor reads, or is unable to read, materials relating to their purchase should not ever determine the level of protection that an investor receives. And under any circumstance, it seems logical to presume that an investor (institutional or retail) who buys XRP is betting on Ripple for one reason or another.\u201d<\/p>\n<\/blockquote>\n Stark believes the ruling sits on shaky ground, with an appeal and a reversal likely.<\/p>\n However, progress on Capitol Hill to address the regulatory void that continues to impact the US digital asset space could mute the outcome of an SEC appeal of the Court ruling.<\/p>\n While the outcome of an appeal would impact XRP, Ripple CEO Brad Garlinghouse expects an SEC appeal to take years, giving crypto advocates on Capitol Hill the time to push through legislation to deliver a much-needed crypto regulatory framework.<\/p>\n SEC v Ripple case-related chatter will remain the focal point. Investors will likely be seeking SEC comment on appeal chatter to provide direction.<\/p>\n However, beyond the SEC v Ripple case and the staking statistics, investors should continue to monitor ETF chatter, with\u00a0Binance<\/a>,\u00a0Coinbase (COIN<\/a>), and US lawmaker crypto chatter also focal points.<\/p>\n A bipartisan response to the call from Senator Cynthia Lummis for crypto legislation would provide price support.<\/p>\n<\/div>\n\n
\n
The Day Ahead<\/h2>\n