XRP Price Analysis: SEC Appeal Deadline Approaching
XRP Faces Resistance at $0.55 Amid SEC Appeal Uncertainty
Key Details:
XRP struggled to surpass the $0.55 mark in the recent rally, with lingering doubts surrounding the SEC’s appeal. Judge Analisa Torres previously determined that the programmatic sales of XRP did not meet the criteria of the Howey Test. The SEC’s unexpected decision to appeal has cast a shadow of uncertainty over XRP’s future trajectory.
Stuart Alderoty’s Take on XRP’s Legal Standing
Insights from Ripple’s Chief Legal Officer:
In a recent interview with CryptoLaw US, Stuart Alderoty emphasized that regardless of the SEC’s appeal, XRP’s classification as a non-security and the trading of XRP on secondary markets as non-security transactions remain legally unchanged. This statement offers reassurance to XRP investors amidst the ongoing legal battle.
Impact of Appeal Filings and the US Election on XRP Price
Market Speculation and Potential Scenarios:
If Trump maintains a lead in the polls and secures a victory, XRP could see a significant boost towards the $1.00 mark. Conversely, a victory by Harris would leave the future of XRP in the hands of the US legal system. The outcome of the SEC’s appeal against the Programmatic Sales ruling could also dictate XRP’s price movement, potentially pushing it below $0.50.