XRP Price Prediction: Analyzing the SEC Appeal Impact on Ripple
XRP Price Prediction After SEC Appeal.
XRP price prediction faces uncertainty following the SEC's appeal against Ripple. The recent developments have seen XRP struggling, with forecasts suggesting a potential drop to $0.43. Investors are closely monitoring the price indicators amidst this turbulence.
Market Movements and Key Indicators
- XRP has had a topsy-turvy start to October.
- Bitwise's initial S-1 filing for an XRP ETF introduces bullish sentiment.
- However, the SEC's appeal has triggered a decline, pushing XRP's value down by over 20% from a peak of $0.52.
The token is currently testing pivotal support levels, trying to establish a local bottom. Experts indicate that further downside potential remains a real concern.
Reactions to SEC's Appeal
In July 2023, Judge Analisa Torres ruled that Ripple's programmatic sales did not breach the Securities Act. However, her finding of guilt for Ripple's institutional sales leaves the door open for market volatility.
- The SEC is opposing this ruling and has filed a Notice of Appeal with the Court of Appeals.
- XRP community reactions emphasize the tension between regulatory scrutiny and market expectations.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.