Ripple and SEC: Experts Discuss XRP Price Fluctuations Before Appeal
Due to the U.S. Securities and Exchange Commission (SEC) setting the important summary date for the Ripple appeal case on January 15, 2025, the trading volume of XRP surged by 50%.
The lawsuit primarily debates Ripple's role in the value of XRP, but there is currently no evidence to prove that Ripple has actively promoted XRP to retail investors.
The price of XRP has dropped below $1.10, but $0.785 is a key support level. If this support level holds, analysts believe XRP could rise to $2.
The seventh-ranked cryptocurrency XRP is particularly active in trading. In the past 24 hours, trading volume has surged by 50%, coinciding with a major announcement from the SEC.
The SEC also announced the date for the main case summary of the Ripple appeal, which has made XRP's regulatory status and its impact on the cryptocurrency market a hot topic. Everyone is watching this case, as it may affect how the U.S. regulates cryptocurrencies in the future.
There is ongoing discussion about Ripple's role in the value of XRP. A legal analyst named Bill Morgan stated on social media that the value of XRP is closely tied to Ripple's efforts.
However, he also mentioned that while the SEC claims XRP is a security of Ripple, they have no evidence. Ripple has not marketed XRP to retail investors. Moreover, he believes that long-term holders feel that Ripple selling XRP from escrow accounts has depressed the price, rather than raised it.
This has led to renewed concerns about the impact of the SEC appeal on XRP and the cryptocurrency market. Analysts are also unsure whether the appeal will uncover new evidence that could change the outcome. Morgan noted that the court still needs to consider the evidence rather than just theoretical arguments, so it remains unclear how the SEC's position will play out.
Currently, the price of XRP is adjusting. It has fallen from $1.15 to below $1.10, and it may drop to $1. However, $0.785 is an important support level; if it holds, XRP could potentially rebound to $2.
Overall, while the legal arguments are quite intriguing, the XRP community is more concerned about regulatory and market issues. Everyone is discussing what precedent this Ripple case will set for how the U.S. handles cryptocurrencies.
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