XRP stays over $0.53 as Ripple cross-appeals, Bitnomial sues SEC
Friday, Ripple affirms cross-appeal against SEC in four-year legal struggle, XRP rises beyond $0.53.
Derivatives trade Bitnomial sued the SEC for regulatory overreach and XRP as a securities.
After recent losses, XRP might rise about 5%.
XRP stays above $0.5300 support. The altcoin rises as the payment remittance business files a cross-appeal in the Ripple litigation with the SEC. Institutional investor custody solutions from Ripple will have additional features.
Ripple filed a cross-appeal on Thursday after the SEC challenged the final verdict in the four-year legal struggle.
The US banking regulator appealed Ripple's $125 million institutional XRP sales penalties.
According to Ripple's Chief Legal Officer, Stuart Alderoty, the SEC appeal does not impact XRP's legal clarity.
Social mood among XRP holders is good, but the Fear & Greed Index on CFGI.io is neutral due to the firm's cross-appeal.
Derivatives exchange Bitnomial sued the SEC for âregulatory overreachâ and XRP confusion.
Bitnomial Exchange, LLC sued the SEC to prevent them from claiming joint jurisdiction over its $XRP futures contracts, which are within the CFTC's exclusive jurisdiction.
Technical analysis: XRP poised for roughly 5% increase
XRP has risen since July. The cryptocurrency may climb to the 10-day Exponential Moving Average (EMA) around $0.5618, approximately 5% above its present level.
Fair Value Gap (FVG) barrier for XRP is $0.5778â$0.5445. The Moving Average Convergence Divergence (MACD) indicator shows red histogram bars shrinking, indicating XRP price negativity is reducing.
Relative Strength Index (RSI) is 42.82, below neutral, indicating falling momentum.
A Ripple slump might sweep liquidity at $0.5228, the October 10 low.
