XRP welcomes a landmark time node this week. According to foreign sources, the key decision of the United States court in the case of Ripple and the United States Securities and Exchange Commission (SEC) of 13 July 2023 remains, to date, an important background for the distinction between most of the encrypted assets of XRP.
The court ruled for three years.
The report mentions that the then judge Analisa Torres found that XRP was not a security in a particular trading context. In the light of this decision, the market has recently again discussed whether XRP has a relatively clear legal position.
Analysts look below $1
The outsider quoted an analyst, Zach Rector, who argued that there might still be a round of turnbacks for XRP, with price paths or a first look at about $0.93, then rebounding to close to $1 and further down to about $0.87.
- First target is about $ 0.93
- Bounce position approaching $1
- The final area is about $0.87.
As at 13 July, the value of the XRP transaction was approximately $1.10 and was still higher than the above-mentioned evolution. The article describes this round as the last line down of a multi-year adjustment.
History is lower and compared.
The report also reviews two important past lows. In March 2020, XRP fell to about $0.10; in June 2022, after Terra Luna crashed, XRP returned to about $0.28 to $0.30. According to the article, the prices have not since broken down these zones.
Overall, the article was based on a market perspective, not on new judicial developments, but on the third anniversary of the Court ' s ruling, when analysts again linked the legal background of the XRP to short-term price reversal expectations.