FOX Correspondent Gasparino drops a hot take on the future of XRP, reporting that Judge Torres’ Ripple ruling was a joke and should not be considered a win by Ripple.
XRP has continued to be a subject of discussion in the crypto community. In a recent outcome, Charles Gasparino, a Fox Business Correspondent, commented on the asset’s future. His report talked down Judge Analisa Torres’s ruling on XRP, triggering several comments from community members.
Gasparino, who has always been an XRP critic, said Judge Torres’s ruling that XRP is not a security was a joke.
He further cited that Judge Jed Rakoff confirmed this. Notably, Rakoff is the presiding judge over the Terra case. As reported, the federal judge rejected Judge Torres’ logic in the ruling.
(2/2) judge Torres was a joke and not the big win many retail investors believe. Judge Rakoff has confirmed that. I have no idea where XRP will end up. I do know based on my reporting the court rulings are mixed so buyer beware; my reporting always stands up.
— Charles Gasparino (@CGasparino) August 16, 2023
Gasparino remarked that retail XRP investors should not consider Torres’ decision a big win for Ripple and XRP. “Court rulings are mixed,” he said, urging market participants to beware of buying XRP.
According to the reporter — who claimed his reports are always accurate — the future of XRP is uncertain.
Part of his post reads: “I have no idea where XRP will end up. I do know, based on my reporting, the court rulings are mixed, so buyer beware; my reporting always stands up.”
To authenticate his claims, Gasparino stressed that his past warnings about the AMC and FNMA assets turned out right. He noted that the AMC token dipped massively, as projected. Likewise, FNMA tanked after he gave a heads-up.
Developments in Ripple Vs. SEC Case
Recall that, on July 13; Judge Torres handed Ripple a partial victory over the SEC following a decision that XRP is not a security and that Ripple’s programmatic sales of XRP and other distributions do not constitute securities offerings.
In light of this, the SEC wants to appeal Judge Torres’ verdict on Ripple’s programmatic sales of XRP and other distributions. Meanwhile, the SEC refrained from challenging the non-security status of XRP.
Accordingly, the regulatory agency requested to file a so-called interlocutory appeal motion. Ripple recently opposed the SEC appeal request while addressing Judge Rakoff’s stance on Ripple’s victory.