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The XRP price saw a significant decrease on Thursday after new developments in the continuous legal conflict between Ripple Labs and the US Securities and Stock Exchange (SEC).
Judge Analisa Torres’ resolution To reject the joint movement of Ripple and SEC for guidelines, stop XRP prices because it aims to violate the nearest resistance level at $ 2.23.
The main issues that have not been resolved for ripples
Although SEC, who indicated that the primary legal conflict between the two parties may reach a conclusion, Judge Torres has highlighted that many procedural matters still require a solution, including the necessary approvals for the court.
In her ruling, she made it clear that private agreements cannot replace the decisions of the General Court, saying: “The parties do not have the authority to agree to not adhere to the final ruling of the court … they did not come close to doing so here.”
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In response to the ruling, the chief legal official of Ripple, Stewart Aldery, moved to the X -on -Twitter social media platform to connect that the situation has now returned in the hands of Ripple.
Executive Authority Indicate The court has given them two options: either refused to appeal in relation to historical institutional sales or to continue to appeal.
Regardless of the selected path, Aldeoty stressed that the legal status of XRP as non -security is still intact, and reassured stakeholders that it is usual.
Expert reactions to Torres decision
Farid Rispoli’s legal expert also weighs the effects of the irritable matter, male It will not affect the XRP in the secondary market or affect the potential funds fund files (ETF) pending approval by the SEC.
He pointed out that the irregular order is merely a document for the court and stressed the possibility of judge Torres to call Ripple and SEC to the court unless the Supreme Education Council believes that Ripple violates the conditions of the Zarbian order.
Rispoli also asked whether SEC has the authority to grant Ripple the exemptions needed to alleviate any restrictions imposed by the Zarbian order, indicating that these procedures fall within the executive authorities of SEC.
Ripple confirmed that it has modified its operations to agree with the results of the court, especially with regard to its previous sales of institutional investors.
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The use of aldeoty for the term “historical institutional sales” in its recent statement indicates a shift in how both parties deal with future transactions, which indicates a possible settlement that allows XRP sales Institutions In an acceptable way to the Supreme Education Council.
The price of XRP can reach $ 5
Despite this temporary setback, market analysts are still optimistic about the future of XRP. Crypto Analyst Cryptobullet recently indicated that the two -week XRP price scheme is similar to the patterns seen in 2017, including a large accumulation and possible difference.
With this historical context in mind, the expert Expected A final increase in the price of XRP, expecting new high goals ever ranging from $ 4.50 and $ 5.40 per crying currency.
As of the time of the press, the XRP price fell to the 2.08 dollar sign, which is a major support level for the expected bulls for further recovery. In the past 24 hours, XRP decreased by 4.4 %, and 10 % last month. According to Coingecko DataThe price of XRP remains less than 38 % of the record number of $ 3.40.
Distinctive image from Dall-E, Chart from TradingView.com
