Recent Market Shock:
On October 2nd, XRP felt the heat, plummeting 9.78% to close at $0.5388. This drop followed the SEC's latest moveāa Notice of Appeal against Rippleāadding a new layer of legal drama. š
Rippleās Standpoint:
Ripple's Chief Legal Officer, Stuart Alderoty, slammed the SEC's tactics as "litigation warfare" aimed at the broader crypto industry. CEO Brad Garlinghouse stood firm, emphasizing that XRP's status as a non-security remains unaffected by the SEC's recent actions. š¼š”ļø
What's Next on the Legal Front?:
Fred Rispoli, a pro-crypto lawyer, sketched out a possible timeline for the appeal process:
SECās Brief Due: December 2, 2024
Rippleās Opening Brief: Early January 2025
Oral Arguments: September - October 2025
Expected Ruling: January - April 2026
š Market Impact & Predictions: Analysts are watching closely as XRPās price dynamics could sway significantly with each development in the SEC's appeal. The challenge to Programmatic Sales could send XRP spiraling towards $0.40. Meanwhile, current market trends suggest support at $0.5250 with resistance nearing $0.5739. š
Investor Alert:
Stay tuned to appeal-related updates! These crucial moments are likely to shape XRPās market trajectory in the upcoming months. Your strategic insights and timely decisions are key. šµļøāāļøš
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