XRP remains under pressure as the U.S. Securities and Exchange Commission (SEC) appeals a court ruling on Ripple’s programmatic sales. The price of XRP is still below the key resistance mark.

SEC Appeal Context

On October 18, XRP closed at $0.5474, a slight gain of 0.62% for the day but still below the key resistance mark at $0.55. This followed the SEC's challenge to Judge Analisa Torres’s July 2023 decision, which stated that Ripple’s programmatic sales did not meet the criteria of the Howey Test. This legal move has spurred market speculation, with the outcome of the appeal potentially impacting the future of XRP.

XRP Price Fluctuations

If the court upholds the initial ruling, XRP's price could surge significantly, as it did in July. Currently, the market remains cautious amidst ongoing uncertainty regarding the appeal.

Expert Opinions and Outlook

Ripple’s Chief Legal Officer Stuart Alderoty emphasized that the question of XRP not being a security is fundamentally settled. He urged market participants to focus on the status quo despite the current uncertainties.

The outcome of the legal dispute between the SEC and Ripple is a key factor that will determine the direction of XRP’s price movement. Market participants are keenly awaiting the appeals court decision.