XRP price attempted a recovery after breaking past the $0.50 hurdle. Two catalysts are likely influencing the altcoin’s price: The Securities & Exchan
counsel’s preparedness against the SEC’s appeal. Deaton commented on a “memo” written by the SEC’s enforcement lawyers that was undisclosed to the public. Deaton stated that Judge Netburn found it important to note that authors of the memo did not recommend any action be taken against XRP token.
With the altcoin’s price struggling to begin its upward trend, it is likely that XRP closes September by yielding losses for token holders.XRP price drifts at $0.52, likely headed for decline, evaluated the XRP price trend and predicted a decline in the altcoin, unless it makes a decisive break past $0.57. The analyst argues that XRP price is at a risk of a drop to the range low at $0.41, unless it reverses trend.
While the judge ruled that programmatic sales aren’t considered securities, sales of XRP tokens to institutional investors are indeed investment contracts. In this last case, Ripple did breach the US securities law and will need to keep litigating over the around $729 million it received under written contracts.The ruling offers a partial win for both Ripple and the SEC, depending on what one looks at.
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