Price Analysis

Expert Lawyer Predicts SEC Will Appeal as XRP Price Risks 25% Crash

XRP price prediction hints at a steep correction as two experts believe that the US SEC appeal will come before the October 7 deadline.
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Expert Lawyer Predicts SEC Will Appeal as XRP Price Risks 25% Crash

Highlights

  • XRP price is approaching the $0.639 resistance level, which has prevented a breakout for the past seven months.
  • Experts forecast a higher probability of an SEC appeal before October 7 deadline.
  • XRP price has soared 23% since the September 6 crash and currently trades at $0.618.

Ripple (XRP) price approaches a key resistance area, putting the XRP price in a make-or-break situation. The US SEC appeal deadline on October 7 will decide if XRP will crash or climb higher. While the XRP community believes there won’t be an appeal from the US Securities & Exchange Commission (SEC), a former SEC Lawyer and pro-XRP attorney thinks the SEC appeal will come.

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XRP Price Correction Likely as Experts Believe SEC Will Appeal 

XRP vs. SEC Lawsuit has been a hot topic even after Judge Analisa Torres ruled in favor of Ripple in July 2023. The latest discussion has been surrounding the potential SEC appeal that will contest the said ruling. While the XRP community believes there won’t be an appeal from the SEC, two experts believe otherwise.

Fox Journalist Eleanor Terette posted on X about her conversation with a former SEC lawyer who believes that the SEC will “probably” appeal the July 2023 ruling. The ex-SEC employee added,

“Everyone over there [at the SEC] truly believes that the decision is wrong, that it’s not good law, and should be appealed”

Pro-XRP lawyer John Deaton echoed with Elanor Terette’s X post and former SEC Lawyer and mentioned that there could most likely be an appeal from SEC chair Gary Gensler. Death explained that an appellate court won’t rule Judge Torres was in error, however, even if they did, the SEC still wouldn’t win the case. The pro-XRP lawyer added that the SEC’s weakest argument is the “common enterprise” factor, which Judge Torres didn’t need to apply since the third prong of the Howey Test wasn’t satisfied. 

Regardless, both John Deaton and the pro-XRP lawyer believe that the SEC appeal will come before the October 7 deadline. 

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XRP Price Prediction: 25% Crash Likely on SEC Appeal

Since the September 6 crash, XRP price has soared 23% and currently trades at $0.618. Although an uptrend from here is unlikely, XRP price prediction notes that a correction is brewing for Ripple. 

Here are two reasons why XRP price could crash:

  1. XRP trades below the $0.639 resistance level that has prevented a breakout for the past seven months. The yearly VWAP level also coincides closely with the above level, making it a tough level to crack.
  2. The SEC appeal anticipation serves as a headwind and could discourage buyers, preventing XRP price from rallying higher. 

As a result of these two reasons, Ripple’s price could crash soon. Therefore, investors must keep a close eye on the $0.639 resistance level. Rejection here could lead to a 25% correction to the support level at $0.469.

The Relative Strength Index (RSI) and Awesome Oscillator (AO) are both hovering around their respective mean levels of 50 and 0, respectively, for the past few days, signaling indecision. As mentioned above, the SEC appeal will be the deciding factor that could crash or propel XRP.

XRP/USDT 1-day chart

On the other hand, if XRP price manages to flip the $0.635 resistance level into a support floor, it would signal strength. Such a development could occur if the SEC does not appeal. In such a case, Ripple could shoot through $0.636 and rally 12% to target the $0.714 hurdle.

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Frequently Asked Questions

Will the SEC appeal the July 2023 ruling in the XRP vs. SEC lawsuit?

A former SEC lawyer and pro-XRP lawyer John Deaton believe that the SEC will likely appeal the ruling, despite the XRP community's optimism that there won't be an appeal.

What are the potential consequences of an SEC appeal on XRP price?

An SEC appeal could lead to a 25% crash in XRP price, as it may discourage buyers and prevent the price from rallying higher. However, if the SEC doesn't appeal, XRP could surge 12% to target $0.714.

What is the current market sentiment for XRP?

The Relative Strength Index (RSI) and Awesome Oscillator (AO) are signaling indecision, with both hovering around their mean levels of 50 and 0, respectively.
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Akash Girimath

Senior Cryptocurrency Analyst & Market Strategist Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts. A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise. Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.

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