The XRP price has recently seen a 2.5% jump to $0.54 after Ripple filed a cross appeal against the SEC. Legal experts have been increasingly optimistic about Ripple’s chances of success, with some suggesting that sales of XRP to institutions were not considered investment contracts in the Howey sense. Ripple has now put forward this argument in its cross appeal, with the SEC also confirming that it is not appealing the ruling that XRP itself is not a security. Even if Ripple’s cross-appeal is unsuccessful, experts believe that the consequences may not be severe, possibly resulting in another financial penalty. This positive outlook has helped settle the XRP price, showing signs of renewed momentum with potential growth in the coming weeks and months.
One lawyer, James Murphy, suggested that Ripple should cross-appeal against the SEC, arguing that sales of XRP to institutions were not investment contracts but rather sales of a commodity to wholesalers. Ripple’s legal counsel has announced that the firm has indeed filed a cross appeal, taking this advice into consideration. Even with the possibility of an unfavorable outcome for Ripple, some attorneys believe that the consequences may not be significant, potentially resulting in another financial penalty. This optimistic perspective has helped the XRP price show signs of renewed momentum, with indicators suggesting a period of growth and potential rally towards $0.60 by the end of October.
While many traders are hopeful about XRP’s future, some may seek quicker gains by diversifying into smaller cap tokens, including presale coins. One project gaining momentum is Crypto All-Stars (STARS), an Ethereum-based token that has raised over $2.1 million in its sale. Crypto All-Stars is launching the market’s first ‘MemeVault’, a staking protocol allowing users to stake any meme token, including those not on the Ethereum blockchain. STARS holders receive greater rewards for staking other meme coins, indicating strong demand for the token. With a max supply of 42.069 billion and a dedicated community, STARS could see significant growth once listed on exchanges, with the presale currently ongoing at $0.0014947 per token.
In conclusion, the recent cross appeal by Ripple against the SEC has generated optimism among legal experts, potentially leading to a positive outcome for the XRP price in the coming weeks. While the consequences of an unsuccessful appeal may not be severe, the overall outlook for Ripple appears positive. Traders looking for quick gains may consider diversifying into smaller cap tokens like Crypto All-Stars, which offers unique features such as the MemeVault staking protocol. With strong community support and a promising roadmap, STARS could see significant growth once listed on exchanges. Overall, the future looks bright for Ripple and the wider cryptocurrency market as legal battles and new projects continue to shape the industry.
