Cardano Price Forecast: Hoskinson Hints at Ripple Case Redefining U.S. Securities – How Will ADA React?
Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.
Over the past 24 hours, the Cardano price has found its footing with newfound momentum, up 2.27%.
This follows Cardano CEO Charles Hoskinson’s comments that the reopened Ripple vs SEC case could rewrite the regulatory framework for securities.
Today’s movement marks a turnaround from last week’s market crash driven by geopolitical tensions, although Cardano remains down 14.32% since last Friday.
This positive momentum is also reflected in a 7.03% drop in trading volume, now at $303.8 million, suggesting that recent volatility is beginning to ease.
The SEC has officially appealed its case against Ripple following a historic ruling on August 7, where Ripple was ordered to pay a $125 million civil penalty, arguing that the district court’s decision contradicts long-standing Supreme Court precedents and established securities laws.
Ripple’s Chief Legal Officer Stuart Alderoty said on X that the SEC’s appeal was “disappointing, but not surprising.”
He called the lawsuit “irrational” and “misguided” from the start and mentioned that the court had already rejected the SEC’s claim that Ripple acted recklessly and that there were no allegations of fraud, victims, or losses.
In an interesting turn, Charles Hoskinson, in reaction to Alderoty’s post, suggested that the ongoing Ripple case could potentially replace the Howey Test.
This legal test, established by the Supreme Court, is used to determine whether certain transactions qualify as investment contracts under U.S. securities law.
While Hoskinson’s remark may be delivered with a touch of irony, it
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