xrp is bearish
2024-10-11

Key Points:
XRP surged 1.22% after Ripple filed a cross-appeal in its ongoing legal battle with the SEC, outpacing the broader crypto market.
Ripple's cross-appeal of the SEC ruling aims to challenge key aspects of August's final judgment.
Ripple’s Chief Legal Officer stated that the SEC lost on all major points, motivating Ripple to file a cross-appeal for clarity.
XRP will likely remain below $0.55 as investors await the SEC and Ripple’s court filings. Ongoing speculation about the SEC’s appeal and the court filings will influence XRP demand. Price trends will likely hinge on the SEC’s justifications to appeal the Programmatic Sales of XRP ruling.

If the SEC offers a convincing argument to appeal, XRP could drop toward $0.50. Conversely, if the SEC withdraws its appeal, XRP could rally toward $1.00, mirroring price action following the Programmatic Sales ruling.