Following the recent summary judgment favoring Ripple in the XRP vs. SEC lawsuit, Gary Gensler, Chair of the United States Securities and Exchange Commission (SEC), has yet to provide a clear stance on the commission’s next steps. This silence has left many questioning the SEC’s intended course of action.

During a recent segment on Bloomberg TV, Gensler evaded questions regarding a potential appeal of the judgment. He did note, however, that the SEC has not yet made a decision and expressed disappointment over the ruling, stating that the agency intends to thoroughly evaluate the outcome of the Ripple Labs lawsuit.

On July 13, 2023, Judge Analisa Torres classified the XRP token as a security when sold to institutional investors, but not when sold to retail investors, based on the ruling. This decision had a tremendous impact, leading major cryptocurrency exchanges such as Coinbase to relist XRP tokens on their platforms. Consequently, the market responded positively with XRP experiencing significant price rallies, reaching $0.80 following the favorable judgment.

Since the ruling, there has been a growing demand for clarity regarding the SEC’s next steps. However, SEC Chair Gary Gensler has refrained from offering substantial statements and has only indicated that the SEC is currently analyzing the decision.

Regardless of the XRP judgment, Gensler continues to emphasize that the crypto industry falls short of meeting securities laws’ demands. This persistent stance from the SEC Chair leaves many wondering about the motivations behind his evasiveness.

Within the cryptocurrency community, speculation abounds regarding the implications of Gensler’s silence. Many experts suggest that an appeal by the SEC is probable.

John E. Deaton, an attorney for XRP holders, points out that an appeal does not necessarily equate to a setback for Ripple. Additionally, Ripple’s Chief Legal Officer, Stuart Alderoty, highlights that if XRP is deemed not to be a security, the SEC would lose jurisdiction over its trading.

However, former SEC official John Reed Stark echoes Gensler’s position, deeming the XRP vs. SEC decision as on “shaky ground” and likely to be appealed. Stark argues that the ruling fails to clearly distinguish between private sales of XRP to institutional investors and sales to exchanges, potentially resulting in a new class of “quasi-securities” whose status depends on investors’ sophistication.

Amidst the ongoing discussions, rumors have circulated regarding Gensler’s potential resignation in the wake of the XRP ruling. These rumors have primarily gained traction within the XRP community. However, the SEC has issued a statement affirming that Gensler has no intention of resigning and remains committed to pursuing the commission’s objectives.

As the possibility of an appeal looms, the future of XRP and the entire cryptocurrency industry remains uncertain. The outcome of the next steps taken by the SEC will undoubtedly shape the trajectory of this ongoing legal battle and have far-reaching implications.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.