XRP: Positive news in SEC standoff sends asset up 5.2%
XRP: Positive news in SEC standoff sends asset up 5.2%
XRP is up 5.2% in the last 24 hours following Judge Analisa Torres' ruling denying the SEC's request for an interlocutory appeal in the SEC's case against Ripple.
The district court's ruling came on October 3 and follows Ripple's triumph that began on July 13, when sales of XRP to retail customers were classified as something other than a security. The SEC has since attempted to appeal that portion of the ruling, but was again unsuccessful.
On October 3, the U.S. District Court for the Southern District of New York set a trial date for the XRP lawsuit for the second quarter of 2024.
As a result, XRP surged and retested the $0.54 level. A high of $0.5479 was recorded, after which the XRP/USD pair corrected.
Facing resistance near $0.54, XRP is currently trading at $0.533816, ranking as the leader among other cryptocurrencies in terms of growth over the past 24 hours.
XRP trading volume increased by 78% to $1,614,177,904, while its market capitalization also increased by 4% to $28,384,168,869.
Now, the XRP cryptocurrency is attempting to return to the $0.55 level and push back from there to reach the psychological barrier of $1. To do so, the token will have to overcome resistance at $0.55, $0.60, and $0.90. Sustained bullish sentiment could provide enough demand for further gains.
Further reading: Gold trades around $1,820.
