As a result of the development in the case between Ripple and the SEC, there was an increase in the price of XRP.
There has been a new development in the case that has become a hot mess between Ripple and the SEC. According to the news made by BTCHaber, the judge of the case, Analisa Torres, rejected the SEC’s objection to the appeal request. With this result, Ripple’s hand in the case became stronger.
This decision of the case judge led to an increase on the XRP side. XRP rose from $0.5112 to $0.5479. Analysts suggested that XRP could reach $0.70 in a short time.
Ripple came forward in the case, XRP rose!
Judge Analisa Torres, who handled the Ripple and SEC case, made a decision in favor of Ripple. Torres did not accept the SEC’s objection to the appeal. It is planned that the case will proceed in its normal course and 2024 will be a busy year. Among all these processes, the company’s hand continues to strengthen with decisions in favor of Ripple.
The rise on the XRP side due to the impact of the lawsuit continues today. In XRP, which maintained permanence above $ 0.50, the news effect brought $ 0.5479. However, XRP fell to around $0.5320 with the correction it experienced.
While it is wondered whether XRP will start its bull run, the crypto market is generally red. Bitcoin’s $1,000 withdrawal caused altcoins to fall by nearly 10 percent. XRP came to the fore with its rise during the period of decline.
XRP may need to sustain above $0.54 to continue its rise. This situation means a rebound after the apocalyptic fall that took place on August 17. The next resistance area for XRP may be the $0.59 level. This point is predicted to be difficult to break and the bears will firmly defend $0.59. However, if XRP overcomes this resistance, it may rise to the challenging zone at $0.6350. $0.6350 will be one of the most critical bends in XRP’s ongoing journey to $0.70.
A possible pullback in XRP could challenge the support point in the $0.52 region. If this support point fails and the price falls further, the $0.4988 region is of great importance. Breaking this support point, which is at the intersection with the price area in June, could highlight $0.4750, which is the major support for XRP.
