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<\/p>\nJournalist<\/p>\n<\/div>\n
\nPosted: September 30, 2024 Ripple [XRP]<\/a> noted rapid price gains<\/a> in recent hours after speculation that the U.S. Securities and Exchange Commission (SEC) could appeal against the rulings of the SEC vs. Ripple case.<\/p>\n In a post on X, John Deaton<\/a>, lawyer and candidate for United States Massachusetts, noted that an appellate court would likely not find that Judge Anastasia was in error applying the 3rd prong<\/a>.<\/p>\n He also observed that it \u201cmakes no sense\u201d for the SEC to appeal the court\u2019s ruling, \u201cwhich is why someone like Gary Gensler might just appeal.\u201d<\/p>\n The 7th of October is the deadline by which any appeals against the rulings can be made by either party. As this deadline looms larger, XRP price volatility might go up a notch.<\/p>\n Source: Santiment<\/a><\/p>\n<\/div>\n The mean coin age has been trending higher throughout September. This was a sign of accumulation, and the report of outflows<\/a> from exchanges was another sign that the bulls were in control of the market.<\/p>\n The dormant circulation has also been silent since the 21st of September. The flurry of activity back then did not see a deep price correction.<\/p>\n Even before the recent price gains, the short-term holders were at a profit. The move higher took the 30-day MVRV higher once more, which could see some sell pressure from profit-taking in the coming days.<\/p>\n
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On-chain metrics show network-wide accumulation<\/h2>\n
![\"XRP](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/MD-4-XRP-santiment-comp.png\")
<\/a><\/p>\nWarning signs from the spot CVD<\/h2>\n
![\"XRP](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/09\/MD-4-XRP-price.png\")