The post XRP Holds Above $0.60 Zone as SEC Appeal Deadline Draws Near appeared on BitcoinEthereumNews.com.

XRP closed September at around $0.66, a level not seen since the March bull run, as the SEC appeal decision awaits. The SEC is expected to appeal the ruling on programmatic sales of XRP on Oct 7. The global crypto market starts October, often called “Uptober,” with optimism, but it’s not without challenges. Also, many cryptocurrencies ended September on some positive note, and XRP was no exception, closing in the $0.65 zone—a level it last seen during the March bull rally. Further, Ripple’s ongoing battle with the SEC has been a major fuel for XRP’s price, and with the next key date set for October 7, the SEC must decide whether to appeal its recent losses in court. Despite the current positive hint, October 1 has seen some downtrend movement for XRP, with the price showcasing a 4% dip but still holding above the crucial $0.60 support level. The global crypto market, including major players like Bitcoin (BTC) and Ethereum (ETH), also saw declines, adding to the mixed sentiment among investors. Ripple’s recent court victories have fueled more optimism among XRP holders, but the looming SEC decision creates uncertainty. The possibility of an appeal from the SEC indicates that the legal battle isn’t over yet. If the SEC appeals, it could prolong the legal battles between the SEC and Ripple well into 2025. As history shows, markets do not react well to prolonged uncertainty, which may slow down any positive momentum XRP has been building. On the other hand, Ripple supporters remain optimistic, believing that even if the SEC moves forward with an appeal, Ripple can continue to succeed in court. They argue that Ripple’s use case and technology remain strong despite ongoing legal issues, for example, Ripple is actively working on a stablecoin called “RLUSD” launch. XRP 24-H Price…

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Filed under: News - @ October 1, 2024 11:25 am