The legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) may reach a new turning point. Both sides have filed a joint appeal seeking to amend the court's previous ruling, potentially impacting the XRP token's price.
New Twist in the Legal Dispute
Ripple Labs and the SEC have submitted a joint motion requesting a revision of the court's earlier ruling. Specifically, they propose to reduce Ripple's financial penalty from $125 million to $50 million, return $75 million in escrow, and lift the injunction on institutional XRP sales.
XRP Price Changes
Following news of a potential settlement, investor sentiment around XRP has turned notably bullish. The token's price has risen to $2.2. If legal clarity materializes, XRP price projections range from $1.5 to $3, with some more optimistic forecasts targeting up to $4.5.
Technical Analysis
Technical analysis reveals that despite bearish pressure, the weekly RSI remains strong, indicating potential upward movement. The MACD shows a decrease in selling pressure, suggesting a possible bullish crossover. It is anticipated that XRP will break above crucial resistance at $2.5 and later $3, with long-term targets exceeding $5 to $8.
The situation with Ripple Labs and the SEC is at a critical juncture, and progress in the legal battle may significantly influence the price of XRP. Investor expectations also show high volatility and potential growth opportunities.
