XRP has experienced significant 40% price drop, currently hovering around $0.50
The post, which quickly went viral, garnering over 2.4 million views, alleged that Elon Musk's SpaceX had liquidated its entire Bitcoin holdings worth $373 million. However, subsequent evaluations revealed inaccuracies in this claim. The actual source, The Wall Street Journal, clarified that SpaceX merely wrote down the value of the largest cryptocurrency it owns from 2022. This misleading post drew significant backlash, with critics accusing the magazine of spreading"FUD.
This decision does not greenlight the appeal outright, but it facilitates the SEC's formal request. This development emerges from the SEC's intention to challenge a prior ruling by Judge Torres, which established that specific XRP transactions did not qualify as securities under the Howey Test. Ripple's legal team, however, remains confident, expressing its opposition to the SEC's appeal motion.
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