Despite the SEC’s appeal, XRP’s status as a non-security, confirmed in the July 2023 ruling, remains untouched.
Technical indicators suggest XRP could rise by 10%, with a target of $0.60, and support might be found at $0.5319 or $0.3843 if prices drop.
Riskopoli also noted that key witnesses, such as former SEC chairman Jay Clayton, could have been called to testify, strengthening Ripple’s defense and potentially benefiting other crypto companies in future legal battles.
Ripple is now filing a cross-appeal to challenge parts of the 2023 court decision, and lawyers are hopeful that XRP will be in a strong position in the market, free from immediate regulatory threats, and allow investors to remain hopeful about its future.
Lawyer Fred Rispoli has criticized Ripple’s CEO Brad Garlinghouse and executive chairman Chris Larsen for settling part of the SEC’s charges, instead of fighting them in court. Rispoli believes that Ripple had a strong case and a full trial could have worked in their favor.
