XRP may rise as SEC appeal does not challenge Ripple's token's legality
XRP traded about $0.55 Friday, up less than 1%.
SEC's appeal in Ripple litigation is public and does not dispute altcoin's legality.
SEC appeal keeps XRP out of legal issues after July 2023 SEC vs. Ripple verdict declared it non-security.
Friday saw Ripple (XRP) rise as markets digested the SEC's appeal of the final litigation verdict. In August 2024, Judge Analisa Torres fined Ripple $125 million for their institutional XRP sale, maintaining the altcoin's non-security status in exchange-based transactions.
Friday morning XRP is at $0.55.
Daily Market Movers: SEC appeal excludes XRP in Ripple case
Last Friday, the US SEC released its appeal of the Ripple lawsuit's final verdict.
The SEC has not remarked on the legal clarity of XRP, the XRP Ledger's native coin, according to documents.
Judge Torres' July 2023 order declared XRP token a non-security in exchange transactions.
XRP traders studied the lawsuit's latest developments and delighted as the cryptocurrency preserves legal clarity, which may pave the path for US XRP ETF approval.
XRP has been rangebound since August 9, 2024, when it stopped falling. XRP may increase 10% and test resistance at $0.60, its psychological threshold.
The RSI is 47.41, below 50. The Moving Average Convergence Divergence (MACD) indicator flashes green histogram bars above the neutral line, indicating strong XRP price momentum.
Any drop in XRP might find support around the August 5 low of $0.5319 or the July 5 low of $0.3843.
