XRP price has found a new lifeline after encountering headwinds following a breakout triggered by investors\u2019 reaction to\u00a0Ethereum futures exchange-traded funds (ETFs)<\/a>\u00a0launching for the first time in the United States.<\/p>\n The cross-border money remittance token reclaimed support at $0.5 before building the momentum to extend the uptrend to $0.55. As discussed previously,\u00a0XRP was bound for another breakout<\/a>\u00a0if support at $0.5 remained intact.<\/p>\n <\/p>\n District Judge Analisa Torres on Tuesday ruled to reject the\u00a0US Securities and Exchange Commission (SEC)<\/a>\u00a0\u00a0motion seeking to appeal the landmark loss against Ripple regarding the security status of the XRP token.<\/p>\n According to Torres, the SEC did not convince the court that the appeal was going to \u201cmaterially advance the ultimate termination of the litigation.\u201d The agency\u2019s \u201crequest for a stay\u201d was also rejected, implying that both parties can proceed with their preparations for the\u00a0trial set for April 2024<\/a>.<\/p>\n \u201cFor the reasons stated above, the SEC\u2019s motion for certification of interlocutory appeal is DENIED, and the SEC\u2019s request for a stay is DENIED as moot,\u201d\u00a0Judge Torres said in an order<\/a>\u00a0on Tuesday.<\/p>\n <\/p>\n Ripple and the SEC have been instructed to file their pretrial motions before the end of the year. Torres added that \u201cPrior to the final pretrial conference, counsel for both parties, along with the parties themselves, shall meet in person for at least one hour to discuss settlement of this matter.\u201d<\/p>\n The SEC sued Ripple in December 2020 alleging that the company raised at least $1.3 billion selling unregistered securities thus violating the US securities laws.<\/p>\n <\/p>\n After a long court battle, Judge Torres ruled in July that XRP sales made on third-party platforms like exchanges did not constitute securities. However, direct sales to institutions were determined to have constituted securities.<\/p>\n The SEC intended to appeal the section of the ruling that said that programmatic sales of the token are not securities.<\/p>\n The latest court ruling boosted\u00a0XRP price<\/a>\u00a0to retest highs achieved earlier in the week at $0.55. In addition to the growing interest among investors, the token holds above a symmetrical triangle pattern, with the potential to propel XRP price to $0.67.<\/p>\n Traders must, however, be deliberate about booking new long positions in XRP, bolstered by the bullish outlook of the Moving Average Convergence Divergence (MACD) indicator. When the momentum indicator climbs from the neutral area into the positive region, bulls tighten the grip leading to a breakout accompanied by a spike in trading volume.<\/p>\n An incoming golden cross may validate the expected rally. This bullish signal occurs when a short-term moving average such as the 50-day EMA crosses above a long-term moving average such as the 200-day EMA. The pattern assures traders of a continuing uptrend which helps to uphold bullish sentiment and investor interest.<\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <!– <\/p>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\nSEC\u2019s Motion To Appeal Ripple\u2019s Partial Win Denied<\/h2>\n
XRP Price On The Move \u2013 Can It Rally To $1?<\/h2>\n
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