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Legal Tussles, Parties, and Price Patterns: Ripple’s Complex Landscape

On Friday, Ripple’s cryptocurrency XRP registered a 2.27% uptick, marking its consecutive positive sessions following a 2.14% rise on Thursday, wrapping up at $0.5216.

Significantly, Deaton spotlighted the ripple effects since the SEC’s declaration of intent to contest Judge Torres’ judgment. Deaton anticipated Judge Torres to nod to the SEC’s request for an interlocutory appeal. In his viewpoint, this interlocutory motion provides an avenue for Judge Torres to address critiques from Judge Rakoff, the overseeing judge in the SEC vs. Terraform Labs lawsuit.

Deaton, elucidating on the appeal’s timeline, emphasized one to two years. Consequently, the interlocutory appeal would place the SEC vs. Ripple litigation on hold until the SEC’s appeal concludes. Deaton asserted, “If the SEC emerges victorious at the second circuit, which I’m skeptical they will, the case then circles back to Judge Torres.” He elaborated that Judge Torres would reapply the Howey test facets not yet delved into, elongating the litigation.

Moreover, Deaton expressed his belief in Judge Torres reaching an identical conclusion after a successful interlocutory appeal. However, there remains a possibility for the SEC to propose another interlocutory appeal to the second circuit based on Torres’ application of the Howey test’s different prongs.

If the SEC stumbles at the second circuit, they might appeal on every issue post the SEC vs. Ripple case. Considering Deaton’s insights, the SEC might push this legal battle into 2026 or beyond.

Meanwhile, Ripple orchestrated the celebratory “Proper Party” in New York amid the looming court ruling. Ripple’s chief, Brad Garlinghouse, shared glimpses of the event and remarked on the collective achievements and the significance of court decisions.

However, despite these upbeat sessions, XRP languished beneath the 50-day and 200-day EMAs, signaling bearish tendencies. Surpassing these EMAs could propel XRP towards the resistance level of $0.5470. The absence of court proceedings could steer investor sentiment based on the ongoing SEC vs. Ripple case chatter.

On the 4-hourly chart, XRP’s position above both EMAs exudes bullish vibes. If it sustains above the 200-day EMA, we might witness an upward thrust towards the $0.5470 resistance. Nonetheless, any descent below the 200-day EMA could shift focus towards the $0.5042 support level. The current 54.75 reading on the 14-4 Hourly RSI suggests XRP’s potential to reach the trend line before tipping into overbought zones.


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