Ripple Scores Crucial Legal Victory: Will XRP Rise?
Ripple Scores Crucial Legal Victory: Will XRP Rise?On October 7, 2024, the Ripple vs. SEC case reached a watershed moment when Judge Annalisa Torres ruled that programmatic sales of XRP on public exchanges are not considered securities. This ruling is a significant victory for Ripple and its investors, but it has not closed the case. The SEC has hinted at a possible appeal, which could lead to further volatility in the price of XRP. While the victory is significant, the ruling was mixed. While programmatic sales were declared legal, direct sales to institutional investors were deemed violations of securities law. This leaves Ripple with new challenges, as the SEC considers its next moves. Despite the legal troubles, Ripple CEO Brad Garlinghouse is optimistic. While acknowledging that litigation is a hurdle, investor enthusiasm has not waned, and $XRP continues to show strength, trading around the $0.588 mark. Whatâs in store for the XRP market? If the favorable ruling stands, analysts predict that the price of XRP could soar. However, if the SEC appeals, further volatility is expected. Key levels to watch are $0.50 as support and $0.68 as a breakout level that could trigger a bullish rally. Impact Beyond XRP The outcome of Rippleâs legal battle doesnât just affect XRP, it could set a precedent for the entire cryptocurrency market. With institutional investors keeping an eye on the outcome, the next few weeks could be critical for the future of cryptocurrencies. #BecomeCreator #XRP #copytrading #criptomonedas
