XRP Price Declines Back To $2 As Legal Dispute With SEC Continues
XRP price declined significantly following Judge Analisa Torres’ denial of a joint motion from Ripple and the SEC for an indicative ruling, halting recovery efforts aimed at the $2.23 resistance level. Despite the SEC dropping its appeal, unresolved procedural matters remain, as highlighted by Judge Torres, who stated that private agreements cannot override court decisions. Ripple's Chief Legal Officer, Stuart Alderoty, indicated that the situation is now in Ripple's hands, with options to dismiss or continue their appeal regarding historic institutional sales. Legal expert Fred Rispoli noted that the injunction would not affect XRP in secondary markets or ETF filings. Ripple has adjusted operations to comply with court findings, suggesting a potential settlement for future institutional sales. Market analysts remain optimistic, with predictions of XRP reaching new all-time highs between $4.50 and $5.40. Currently, XRP is priced at $2.08, down 4.4% in 24 hours and 10% over the past month, remaining 38% below its record high of $3.40.