XRP Jumps to $1: Regulation Appeal Could Hinder Its Progressadmin, · Kategorien: Allgemein
• The recent favorable ruling for Ripple [XRP] in its legal battle against the U.S. Securities and Exchange Commission (SEC) has injected fresh optimism into the XRP community, propelling the token’s value upward.
• However, the SEC has since confirmed their decision to appeal the court’s decision, raising questions of whether XRP’s path to $1 could be hindered.
• If Ripple wins again, then its value could surge much higher than its current value; however, a judgment reversal may cause XRP’s daily amount of trustlines on XRPL to decrease and its price volatility may fall from its current level.
The SEC’s Appeal Could Affect XRP’s Trajectory
Recent developments like the SEC confirming it was going to appeal the court’s decision raises the question of whether XRP’s path to $1 could face disruption. Before this announcement, Judge Torres had approved the motion for a pre-trial which many predicted could slide the three-year-old case into 2024. But now with this action taken by regulatory agency, will XRP be affected?
Impact on Price
Previously, when euphoria around the XRP win was considerably high, there were several predictions that token could surge above $1 if Ripple wins again. However, despite impressive rallies at some point, XRP has not been able to meet up with this projection yet. If appeal goes in favor of SEC then optimism around token could change drastically and lead to drop from current value of $0.62 region it is holding tightly onto currently.
Impact on Ledger Activity
Since Ripple won their case activity on XRPL ledger has been quite impressive as shown by Whale Chart with average of 1.2 million transactions on ledger since August began .XRPL is Ripple’s decentralized public blockchain which helps in verification and confirmation of transactions for tokens . Since win law of demand and supply along with deflationary nature means that activity on ledger also impacts it’s value . If appeal ends in judgment reversal ,then daily amount of trustlines may decrease resulting in fall from current position .
What Could Happen?
If another win for token occurs it might unilaterally push it above $1 or more but if opposite happens then all hope for same can be lost . In either situation metrics need realign depending upon result which will decide future course for token .
The regulatory agency’s decision to appeal has changed course of case and it remains unclear whether or not SEC will manage prevail over Ripple or not , either way effects are sure be felt upon both price as well as activity on ledger and only time will tell what direction each metric takes after results come out .