XRP’s Solid Fundamentals Persist Amid SEC Appeal: Analysts Say

TL;DR:

• Analysts assert that XRP’s fundamentals remain unchanged despite the SEC’s appeal in their ongoing lawsuit.
• Some even predict a clear victory for the company led by Brad Garlinghouse.

Maintaining Optimism for XRP

The legal battle between Ripple and the US Securities and Exchange Commission (SEC) is nearing its four-year mark this December. Ripple is thought to be in a favorable position, having secured several significant partial victories, particularly following a ruling this summer that mandated a penalty of only $125 million, a stark contrast to the $2 trillion sought by the regulator.

Many experts deemed this as the definitive blow to the SEC, but that perspective has shifted. In a surprising move for some, the Commission announced yesterday that it would appeal the court’s ruling, continuing to argue that XRP qualifies as a security.

The price of XRP dropped sharply soon after the appeal announcement, experiencing a 15% decline. It fell from a high of $0.6 to $0.514 within 24 hours.

Nonetheless, a number of analysts and long-term supporters of Ripple remain undeterred by the SEC’s decision and the resulting price drop. Dark Defender informed their 110k followers that XRP’s worth is not influenced by legal proceedings and advised to disregard the surrounding noise.

The SEC appeal is a sheer mistake and will distinguish the 1% from the broader population with a limited mindset.

Nothing has changed for Ripple & $XRP.

The price is not reliant on this lawsuit, as we’ve previously analyzed.

Thanks to Atty. Jeremy for the insights. pic.twitter.com/LkQRJUkBii

— Dark Defender (@DefendDark) October 3, 2024

Considering More XRP Purchases?

Oscar Ramos, a well-known analyst on X, maintains a positive outlook on Ripple’s native token despite the recent SEC appeal. After reviewing the recent events, he anticipated a victorious outcome for Ripple, envisioning yet another embarrassing moment for SEC Chair Gary Gensler.

He also expressed his belief that XRP does not qualify as a security under current US regulations, leading him to purchase more of the asset.

IF You HOLD $XRP I Got Breaking News For YOU
1. SEC Appeals Ripple Case
2. #XRP Price DUMPS after notice
3. Everyone agrees Gary is a sore loser, Embarrassment
4. Ripple Will Win Again and Defeat BAD Actors
5. I just bought more XRP, here’s what I did
6. XRP’s status as a… pic.twitter.com/ya8yRN4kdn

— Oscar Ramos (@realOscarRamos1) October 2, 2024