XRP News: SEC Appeals Ripple Labs Ruling on XRP Classification

The U.S. Securities and Exchange Commission (SEC) has reignited its legal battle with Ripple Labs by filing an appeal against a July 2023 court ruling that differentiated XRP sales. The ruling had determined that transactions on exchanges were not securities, while sales to institutional investors were classified as such. Despite Ripple being ordered to pay a $125 million civil penalty for institutional XRP sales, the SEC is contesting the decision, seeking to reclassify all XRP transactions as securities. This ongoing legal dispute continues to cast uncertainty over the future regulatory landscape for XRP and the broader cryptocurrency market.

SEC Files Appeal in Ripple Labs Case Over XRP Classification

The U.S. Securities and Exchange Commission (SEC) has reignited its legal battle with Ripple Labs by filing an appeal against a July 2023 court ruling that differentiated XRP sales. The ruling had determined that transactions on exchanges were not securities, while sales to institutional investors were classified as such. Despite Ripple being ordered to pay a $125 million civil penalty for institutional XRP sales, the SEC is contesting the court's position on secondary market transactions, invoking the Howey Test to argue that Ripple’s promotional activities should classify XRP as a security. This ongoing legal scrutiny has not deterred XRP's market performance, which surged by 9.21%.

Ripple Missed New ATH by Just 1%: Can XRP Break Through Today?

XRP has been on a significant upward trend, nearly reaching a new all-time high, missing it by just 1%. The cryptocurrency surged from $2.33 to $3.39 in a short period, showcasing a strong recovery and growth potential. Analysts are discussing whether XRP can enter uncharted territory soon, given its recent performance and market dynamics.

XRP: Investors Hope for Big Gains After Gary Gensler’s Resignation

According to analysts, XRP could rally 60% in value in the next few days after breaking out of its bullish continuation pattern. XRP entered the breakout stage of a triangle pattern on January 11 after Gary Gensler’s exit from the US SEC. If demand for XRP increases, XRP’s price could target the upper resistance levels.

Ripple (XRP) Price Prediction for This Week

XRP has recently broken above the $3 resistance level, reaching a peak of $3.2 before stabilizing. This breakout has established $3 as a key support level. Over the past seven days, XRP has seen a 34% increase in price, making it the top performer among the top ten cryptocurrencies by market capitalization. The price movement since early December has been within a range of $2 to $2.8, but the recent breakout suggests potential for further gains. If the bullish momentum continues, the next targets for XRP could be $3.3 and $3.6. The daily MACD indicator has shown a bullish crossover, indicating strong buying interest.