Expectations of Ripple winning SEC case boost XRP to $0.65
Ripple recommended servers update to XRP Ledger 2.2.1.
XRP cracks $0.65 barrier, climbs over 3%
The expected SEC case judgment is making Ripple (XRP) news. Since the beginning, the lawsuit and SEC's position on XRP have influenced the market.
XRP traders expect a court settlement or Ripple victory. The SEC's recent decision to drop its proposal to classify Solana (SOL), Cardano (ADA), and Polygon (MATIC) as securities gives optimism.
The SEC claims Ripple offered institutional investors unregistered securities (XRP token). The company faces $2 billion in penalties. We await Judge Analisa Torres' decision.
XRP traders watch the Ripple case verdict for two reasons:
XRP may suffer if the SEC appeals the verdict.
Ripple has suggested $10 million in penalty for purported securities law breaches, while the SEC feels $102.6 million is appropriate based on its letter comparing the complaint to Terraform Labs' case.
Pro-crypto attorney Fred Rispoli expects the Ripple litigation to resolve this month.
XRP is in the headlines as rumors about altcoin ETFs, presumably Solana, continue. Franklin Templeton tweeted about Solana ETFs. XRP supporters believe XRP Ledger's native coin will obtain a place ETF.
The core XRPL software version resolves two minor bugs. If you run an XRPL server, update ASAP to maintain service.
Ripple broke its multi-month downward trend and is rebounding toward $0.6666, the 78.6% Fibonacci retracement of the March 11–July 5 dip. Ripple may aim for the altcoin's March 11 2024 high of $0.7440. It rose 14.5% from the current price.
The Fair Value Gap (FVG) between $0.6256 and $0.6379 may boost XRP. An cryptocurrency pullback might sweep liquidity in this imbalance zone before continuing its climb toward its 2024 top.
A daily candlestick close under $0.60 might contradict the bullish argument, and XRP could find support around $0.5632, the 50% Fibonacci retracement level.
