XRP News Today : Ripple vs SEC Appeal and Its Effect on XRP Price

The post XRP News Today : Ripple vs SEC Appeal and Its Effect on XRP Price appeared first on Coinpedia Fintech News

The latest update from Cheeky Crypto focuses on Ripple’s ongoing clash with the SEC and its impact on XRP. Ripple recently won a partial victory when the Court ruled that XRP sales to retail investors are not securities, giving XRP a temporary boost. However, speculation that the SEC may appeal this decision creates pressure on XRP prices. An appeal could prolong the legal battle, which the market views unfavorably.

Here’s the key insight!

The analyst noted that the fear is that an appeal could lead to more regulatory headaches for Ripple, which could keep institutional investors and big players on the sidelines until there’s more clarity. The crypto market doesn’t handle uncertainty very well, and US politics are also playing a role in the upcoming presidential elections and increasing discussions around crypto regulation. 

In the meantime, there is a lot of noise in the political world about how digital assets should be handled, with some lawmakers pushing for stricter regulations while others are more crypto-friendly. The general lack of clarity on how digital assets will be regulated in the future is adding another layer of uncertainty to XRP, especially with the ongoing Ripple vs SEC case in the background.

The XRP community is staying positive, with many believing that Ripple will come out on top in the long run. They see this potential SEC appeal as nothing more than a delayed tactic. However, some holders are getting frustrated, worried that the ongoing Ripple vs SEC case could continue to cast a shadow over XRP’s price. With all the regulatory pressure, XRP might struggle to break out like other cryptocurrencies have done, like Bitcoin or Ethereum.

In a conclusion the analyst said, if you’re a short-term XRP holder, the uncertainty around a potential SEC appeal and ongoing regulatory discussions in the US could keep XRP prices from making any major moves until there’s more clarity. However, if you’re in XRP for the Long Haul, this could be another bump in the road as the case may drag further. Nevertheless, Ripple’s technology is still solid, and the company has continued to grow its partnerships and expand its use cases despite the legal battles.

With a lot at stake this month, XRP is trading at $0.53, showing a modest 0.54% decline over the past 24 hours and a more substantial 3.78% drop over the last week. Despite these drops and current fear reflected by a Fear & Greed Index of 32, technical indicators remain bullish. Over the last 30 days, XRP saw 15 green days and experienced 4.31% price volatility. Given this forecast, it could be an opportune time to buy XRP.

Also Check Out: XRP ETF Incoming? Grayscale Launches First XRP Trust—Could XRP Skyrocket to $3.40?

Will XRP Break its Stagnant Phase? Only time will tell.