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District Judge Analisa Torres recently denied the U.S. Securities and Exchange Commission’s (SEC) appeal request against Ripple, which uses XRP in one of its solutions.&nbsp;
The judge stated that the SEC didn’t provide sufficient evidence to prove a case. Following this ruling, XRP rose 5%. However, this doesn’t mean the end of the SEC’s engagement, and a trial is still pending for April 2024.&nbsp;
In her previous ruling, <a href="https://crypto.news/sec-appeal-a-bust-judges-ruling-will-favor-xrp-crypto-attorney-predicts/" data-type="post" data-id="14188577" rel="noopener noreferrer nofollow">Judge Torres</a> had found Ripple guilty of breaching securities laws while selling XRP to institutional investors but not to retail customers.&nbsp;
This ruling has raised questions regarding the extent to which regulators can oversee the crypto sector. The SEC and Ripple are yet to release official statements regarding the recent decision.
<h2 class="wp-block-heading" id="xrp-is-volatile-a-closer-look">XRP is volatile: a closer look</h2>
While Ripple may have celebrated a legal victory, XRP forecasts remain clouded. Just as the market saw XRP rise from the ashes with a billion-dollar liquidation, there’s growing skepticism about its recent rally’s sustainability.
You might also like: <a href="https://crypto.news/ripple-covers-fortress-trust-users-losses/" rel="noopener noreferrer nofollow"> Ripple covers Fortress Trust users’ losses </a>
Currently, XRP is trading at around $0.5 on exchanges like&nbsp;<a target="_blank" href="https://www.gate.io/price/xrp-xrp/usd" rel="noopener noreferrer nofollow">Gate.io</a>, adding 4% over the week. Although it experienced an upswing in the last 24 hours, potential risks are indicated unless there’s significant buying support.
Trading analysts at QCP Capital have observed a trend in the crypto market. Historically, October (or “Uptober”) has seen an upward trend for major coins, including XRP.&nbsp;
However, the firm is cautious due to external factors that could impact this trend. There is concern over the SEC’s move towards the <a href="https://crypto.news/vaneck-readies-ethereum-futures-etf-launch/" data-type="post" data-id="14199176" rel="noopener noreferrer nofollow">Ethereum futures ETF</a>, as some believe it could disrupt the market’s supply and demand equilibrium and potentially lead to lower prices.
<h2 class="wp-block-heading" id="xrp-in-financial-transactions">XRP in financial transactions</h2>
XRP is core to streamlining digital payment processes. The XRPL is a fast and cost-effective blockchain. Unlike traditional payment systems, XRP can be used to complete transactions in seconds and with minimal costs.&nbsp;
XRP is popular among financial institutions and payment service providers for international money transfers, acting as a bridge between different fiat currencies.&nbsp;
You might also like: <a href="https://crypto.news/ripple-ceo-calls-us-one-of-the-worst-regions-for-crypto-startups/" rel="noopener noreferrer nofollow"> Ripple CEO calls US one of the worst regions for crypto startups </a>
The coin also facilitates micropayments, making it easier for users to transact smaller amounts without hefty fees.&nbsp;
Its primary function is to offer a swift, secure, and affordable means of transferring value to individuals and large-scale financial entities.&nbsp;
XRP is freely available for purchase, but if you don’t know where to start, these&nbsp;<a target="_blank" href="https://www.gate.io/how-to-buy/xrp-xrp" rel="noopener noreferrer nofollow">how-to-buy XRP steps</a>&nbsp;can help.&nbsp;
Consequently, the performance and utilization of XRP in the market go beyond its trading value and are closely linked to the adoption and functionality of the XRP Ledger.
<h2 class="wp-block-heading" id="a-silver-lining-amidst-the-gloom">A silver lining amidst the gloom?</h2>
There are some concerns regarding XRP, but there is still hope for its future.&nbsp;
From the broader economic perspective, a pattern has emerged in the past 30 years.&nbsp;
Every time the U.S. government has shut down, there has been a financial market bull run. This could be a positive indication for XRP’s future in the medium term.
In the short term, XRP could rise back above $0.6.
In summary, although Ripple may be relieved by the recent legal victory, how XRP prices will gyrate remains to be seen.&nbsp;
Read more: <a href="https://crypto.news/sec-has-no-chance-of-success-in-ripple-appeal-lawyer-says/" rel="noopener noreferrer nofollow"> SEC has no chance of success in Ripple appeal, lawyer says </a>
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Ripple’s legal win contrasts with XRP price uncertainty

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