Ripple (XRP) Price Surges to $0.4784 Amid Positive Court Rulings; What’s Next?
Rippleβs native cryptocurrency, XRP, experienced a price surge on Monday, fueled by positive market sentiment following recent court decisions regarding the SECβs case against XRP and other cryptocurrencies.
The market is reacting favorably to expectations that XRP will not be classified as a security, a development that could have far-reaching implications for the broader crypto industry.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| π₯ |  | Read Review | FCA, CySEC, ASIC, MAS, FSA, EFSA, DFSA, CFTC | USD 100 | Visit Broker |
| π₯ |  | Read Review | FSCA, FSC, ASIC, CySEC, DFSA | USD 5 | Visit Broker |
| π₯ |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | ASIC, FCA, CySEC, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | FCA, FSCA, FSC, CMA | USD 200 | Visit Broker |
| 7 |  | Read Review | BVI FSC | USD 1 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
Court Rejects SECβs Argument on BNB as Security
In a recent case involving Binanceβs BNB coin, District Judge Amy Berman Jackson dismissed the SECβs claim that secondary market transactions of BNB should be considered securities.
This ruling, following Judge Analisa Torresβs decision that XRP does not constitute a security, further solidifies the legal status of XRP and boosts investor confidence.
Ripple CEO Clarifies Misinterpretations of Court Ruling
Ripple CEO Brad Garlinghouse addressed misconceptions surrounding a recent court decision involving a securities class action against Ripple.
He clarified that California District Judge Phyllis J. Hamilton did not classify XRP as a security, contrary to some media reports.
The upcoming trial will focus on Garlinghouseβs testimony, not XRPβs classification. Legal experts echoed this clarification, emphasizing that the US currently considers XRP and Bitcoin as non-securities.
XRP Price Forecast β Technical Outlook
Rippleβs price is currently at $0.4784, up 0.49%. On the 4-hour chart, key price levels to watch include a pivot point at $0.4768. Immediate resistance is at $0.4811, followed by $0.4842 and $0.4888. Support levels are at $0.4727, $0.4691, and $0.4663.
The RSI stands at 62, indicating moderate buying pressure, while the 50-day EMA is at $0.4750, providing near-term support.
Conclusion
XRPβs price movement remains contingent on maintaining the $0.481 level. A break above this resistance could fuel bullish momentum, potentially driving the price higher. However, failure to hold this level may lead to further declines, testing the lower support levels.
The overall market sentiment remains cautiously optimistic, with investors closely monitoring developments in the regulatory and legal landscape.
ABOUT THE AUTHOR
See More
Add 3442
Related Posts
Add 3440
| Broker | Website | |
|---|---|---|
| π₯ | | Visit Broker |
| π₯ |  | Visit Broker |
| π₯ | | Visit Broker |
| 4 | | Visit Broker |
| 5 |  | Visit Broker |
| 6 | | Visit Broker |
| 7 | | Visit Broker |
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals
Top Broker