Legal Ruling Impact on XRP Price
With the recent legal ruling in the Ripple and Securities Exchange Commission (SEC) case, attention has shifted to the value of XRP and its potential to rally toward $1.
In the ruling, the court imposed a $125 million civil penalty on Ripple but rejected the SEC’s attempt to classify XRP as a security, particularly in its secondary market sales.
Ripple’s Chief Legal Officer, Stuart Alderoty, emphasized that the SEC’s appeal would not alter XRP’s non-security status, noting that higher courts rarely overturn such decisions.
Uncertainty Prevails Post-Ruling
Following the ruling, uncertainty remains over whether the US regulator will proceed with an appeal, causing XRP’s price to pause in its recent momentum.
The SEC has 60 days from the final judgment date to file an appeal, so XRP will likely remain in limbo until early October.
Predictions Using AI Tool
To assess how XRP might trade in the event of an SEC appeal, Finbold turned to OpenAI’s latest artificial intelligence (AI) tool, ChatGPT-4o.
- Market reaction expected to be negative
- XRP could experience a sharp drop to $0.40 – $0.45 range
- Appeal process linked to price volatility
- XRP may fluctuate between $0.45 and $0.60
- Positive legal outcome could boost XRP
- Price potential between $0.75 and $0.90
Long-Term Outlook for XRP
The long-term price trajectory of XRP hinges on the final resolution of the legal battle.
- Ripple victory could push XRP above $1
- Potential range of $1.20 – $1.50
- SEC’s position upheld leads to bearish sentiment
- XRP could drop below $0.30, testing lows around $0.20
XRP Price Analysis
At the moment, XRP is trading at $0.59, dropping by about 0.6% in the last 24 hours with a 3.6% weekly rally.
Investors are advised to monitor XRP’s ability to maintain its price above the crucial $0.60 resistance zone amidst lingering uncertainty around the SEC appeal.
Hot Take: Stay Informed for the Potential XRP Price Movements
Stay updated on the latest developments surrounding the Ripple and SEC legal battle, as they directly impact XRP’s price movements. Keep an eye on the decision-making process and how the market responds to regulatory clarity and legal outcomes to make informed decisions regarding XRP investments.
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