While #XRP continues to struggle, Ripple is seeing the return of AMM. Support at $0.60, with a goal of $1
After Friday's change, Ripple's XRPLedger mainnet has AMM again.
Test XRP price April 12: $0.60 support, below $0.62.
Ripple CLO agreed with the Second Circuit Court of Appeals' reluctance to review, an SEC defeat.
#Ripple (XRP) price is approaching psychological $0.60 support on Friday, despite Bitcoin's rise to $70,900 on April 12. Bitcoin's recent advances don't influence XRP.
Ripple CLO Stuart Alderoty described a Second Circuit litigation that denied the SEC's appeal.
According to the SEC, Aron Govil utilized his controlling shareholder status to force Cemtrex to commit fraud. The Second Circuit dismissed the SEC's appeal for stolen monies disgorgement.
Alderoty believes the SEC lost because the Second Circuit declined to review its Govil finding that the regulator cannot disgorge the seller if the buyer suffers no financial loss.
The SEC is seeking nearly $2 billion in penalties against Ripple, therefore this litigation judgment affects the case.
The SEC wants punishment for the payment remittance firm's institutional XRP sales and securities law violations. It claims Ripple broke securities laws.
The Govil ruling illuminates XRP investors' expectations for the SEC's Ripple case appeal.
Pro Ripple attorney Bill Morgan discussed the Govil litigation and its implications on Ripple. Morgan said no decision can be made until Ripple's brief and counterarguments to SEC's motion are released.
XRP falls below $0.62, fails to rally.
Ripple hovers between $0.5623 and $0.6431, its April 4 low and April 9 high. The XRP price is hitting $0.60 on Friday. This psychological support for the cryptocurrency was crucial in March and April 2024.
If XRP retests $0.60, it may reach $0.6431, its April 9 high. The cryptocurrency has failed to breach $0.6336 for two weeks.
A daily candlestick closure below $0.6027, XRP 's 50% retracement to April 9, might debunk the bullish argument. XRP may find support between $0.5851 and $0.5386
