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In the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), a new perspective has emerged regarding the SEC’s stance on XRP.&nbsp; A former SEC attorney has predicted the SEC will likely appeal the July 2023 court ruling, which declared XRP’s secondary sales as non-securities.&nbsp;   
The <a href="https://coinpedia.org/news/ripple-vs-sec-lawsuit-news-analyzing-the-odds-of-sec-appeal-before-october-7th/" target="_blank" rel="noreferrer noopener">SEC must file an appeal by October 7, 2023</a>. The court previously <a href="https://coinpedia.org/news/ripple-clo-heres-when-ripple-will-pay-125-million-fine-to-sec/" target="_blank" rel="noreferrer noopener">fined Ripple $125 million</a> for violating securities regulations, though this amount is significantly less than what the SEC initially requested.   
XRP Price Analysis By Cheeky Crypto:   
Support and Resistance:<a href="https://www.youtube.com/watch?v=2threfadzz4" target="_blank" rel="noreferrer noopener nofollow"> XRP is finding support</a> around the 200-hour EMA and 50-hour SMA, while testing resistance near $59.47 to $59.66.   
Price Movement: After attempting an upward push, there's a potential breakout towards $61.49 to $62.50. Momentum indicators like the RSI and stochastic RSI suggest an upward move, though volumes are low, signaling caution. If the price is rejected at the 50 EMA/SMA, a short position might be considered for a brief downside move.   
Larger Trend: On the daily chart, the price is facing resistance at the trendline. A breakout above it could push XRP towards the $0.75-$0.85 range, though there's a chance it could drop to $0.50 before that rally.   
Amidst this, some community members expressed concerns about <a href="https://coinpedia.org/news/ripple-gears-up-for-for-stablecoin-launch-with-latest-rlusd-burns/" target="_blank" rel="noreferrer noopener">Ripple’s upcoming stablecoin</a>, speculating whether it could replace XRP in Ripple’s payment system. However, Ripple has clarified that XRP will continue to play a central role in its international payment solutions.   
As Ripple gears up for its annual <a href="https://coinpedia.org/news/xrp-news-major-updates-on-ripple-swell-event-xrp-etf-and-sec-deadline/" target="_blank" rel="noreferrer noopener">Swell Conference</a> in October, speculation is also growing about a possible XRP ETF, following the SEC’s approval of Bitcoin and Ethereum spot ETFs. Ripple could make major announcements regarding this, as well as other key developments at the conference. This <a href="https://coinpedia.org/news/ripple-news-will-the-sec-file-last-minute-appeal/" target="_blank" rel="noreferrer noopener">ripple news</a> continues to unfold as the community watches closely.   [post_titles_links postid="356479"]

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