Ripple's price demonstrated a confident growth this week after the developers won an important case in the United States.

A major victory for Ripple over the SEC

The Ripple token (XRP) has been rising for the third consecutive day and reached a high of $0.6430, which is 48% higher than the lowest point this month and 70% higher than the July minimum.

In the ruling of the US court, the judge overseeing this high-profile case ordered the company to pay a fine of $125 million, which is much less than the $2 billion demanded by the SEC.

The court also imposed a ban on Ripple regarding certain types of activities. In his statement, attorney Jeremy Hogan, who has closely followed the case, noted that this was a 'big win' for Ripple.

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He also clarified other parts of the order, noting that Ripple can still sell most of its XRP and ODL tokens since they are not under the jurisdiction of the USA. It can also sell XRP to institutions if it does so under a registration exemption.

I see many questions about what the sales ban for ODL means. I don't see it changing the status quo AT ALL for the following reasons: 1. As Ripple stated, most of its XRP and ODL sales are outside the jurisdiction of the USA and are not subject to the order. These… pic.twitter.com/3GimWEcp0c

— Jeremy Hogan (@attorneyjeremy1) August 7, 2024

Ripple's major victory sparked growth among other altcoins, as it signals that they have a chance of winning if the SEC files a lawsuit. Recently, the SEC backed away from claiming that cryptocurrencies like Solana (SOL), Cardano (ADA), and Polygon (MATIC) are securities in the ongoing case against Binance.

The token most directly affected by the Ripple decision was Stellar Lumens (XLM), a popular cryptocurrency with a market cap of nearly $2 billion. Ripple and Stellar pursue a similar goal — solving the problem of money transfers by collaborating with large institutions. Stellar's founder, Jed McCaleb, was a co-founder of Ripple.

The price of XRP could change dramatically

I see many questions about what the sales ban for ODL means. I don't see it changing the status quo AT ALL for the following reasons: 1. As Ripple stated, most of its XRP and ODL sales are outside the jurisdiction of the USA and are not subject to the order. These… pic.twitter.com/3GimWEcp0c

— Jeremy Hogan (@attorneyjeremy1) August 7, 2024

Despite the ongoing excitement surrounding the court's decision in the Ripple vs. SEC case, there is a risk that XRP may fail in the coming days.

As a potential settlement between Ripple and the SEC was expected, there is a possibility that traders will start selling this news.

A good example of this is what happened when the initial ruling was made last June. At that time, the price of XRP rose from $0.47 to a high of $0.9322. This rebound turned into a trap for bulls as the token resumed its downward trend and hit a low of $0.382 in July.

The price of XRP will need to rise above the key resistance point at $0.6586 (the high of July 31) in order to continue its upward trend. Movement above this level will invalidate the double top pattern, the neckline of which is at $0.3812. This will also increase the likelihood of the token rising by 23% to $0.7490.

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REMEMBER THE ENTIRE WORLD IS TALKING ABOUT XRP (RIPPLE) WHICH IS NOT GOOD, WHICH IS BULLSHIT ACCORDING TO THEM! EVEN INCLUDING "DEVINCHY JEREMY" ONE OF THE FAMOUS GUYS WHO PREDICTED AND ADVISED PEOPLE TO BUY BITCOIN IN 2013 IS SAYING THAT XRP IS NOT A GOOD INVESTMENT!

I AM COMPLETELY AGAINST HIS WORDS!! DO NOT LISTEN TO WHAT THE BLOGGERS ARE SAYING. BLACKROCK, ONE OF THE WELL-KNOWN COMPANIES IN THE ENTIRE WORLD WITH A CAPITAL OF 17 TRILLION DOLLARS, IS INVESTING IN BLOGGERS TO MAKE VIDEOS ABOUT SOMETHING, AND TO REDUCE THE PRICE OF THAT COIN DAY BY DAY!

AND THEY ARE BUYING THEMSELVES, REMEMBER THIS!! THE INSTITUTIONAL MIND IS SMART ENOUGH.

REMEMBER: I AM TALKING ABOUT THE SAME XRP WHICH WAS THE LARGEST ECOSYSTEM IN CRYPTO BACK IN 2013! WHY DON'T YOU SEE THE OPPORTUNITY THAT IS COMPLETELY IN FRONT OF YOUUUUUUUUU! WHYYYY ?? SO TELL ME WHYYYYYY (??

YOU DIDN'T ASK YOURSELF WHY ONLY XRP (RIPPLE) COIN IS GOING DOWN EVERY SINGLE DAY AND MONTH (?

IT'S REALLY HARD TO TELL PEOPLE WHAT YOU SEE 👀 😕, I CAN ONLY TELL THAT BUY XRP FOR LONG TERM INVESTMENT. YOU WILL SEE ONE DAY THE BTC WILL GO DOWN TO HOLD XRP TILL THE MOON I AM TELLING YOU GUYS!! YOU MIGHT NOT GET IT SERIOUSLY BUT YOU WILL SEE THAT ONE DAY THE ENTIRE PLANET WILL START TALKING ABOUT XRP!

PREDICTION PRICE: IF IT CROSSES 0.66 YOU WILL SEE IT ABOVE 1-2$ BY THE END OF 2024

PREDICTION 2: LONG TERMS 2035-2040 (XRP 600-1000$)

LET'S SEE 👀