XRP News Today: SEC Appeal Looms – XRP Faces Volatility Amid Legal Uncertainty

XRP Drops Below $0.55 as SEC Appeal Looms

On Thursday, September 5, XRP declined by 2.42%, reversing a 0.27% gain from the previous session to close at $0.5452. XRP tracked the broader crypto market trend, which fell by 2.73% to a total market cap of $1.934 trillion.

SEC vs. Ripple: Appeal Speculation Intensifies

Pro-crypto lawyers debated the chances of an SEC appeal following Wednesday’s court filing. Ripple has requested a stay on the monetary portion of the court’s final judgment, which the SEC agreed to. The SEC consented to Ripple paying the $125 million penalty within 30 days of the appeal window closing. Ripple and the SEC have 60 days to appeal rulings from the Ripple case.

Pro-crypto lawyer Jeremy Hogan downplayed the chances of an SEC appeal, stating,

“Most likely the SEC just hasn’t made a decision whether it will appeal yet. Why? Filing a Notice of Appeal – see sample below – takes only 15 minutes (you file the Notice and then have 70 days to file the actual brief). If the decision to appeal was already made, there’s no reason to delay filing the Notice – especially when you think it’s bad case authority out there.”

Meanwhile, pro-crypto lawyer Fred Rispoli provided a different perspective, stating,

“To those freaking out over possible SEC vs. Ripple appeal: Don’t. There won’t be a ruling until 2026. SEC suing exchanges and alleging multiple tokens as securities has lessened the sting dramatically. If Ripple and/or XRP don’t make it now, it’s not because of the SEC’s case.”

US Politics and SEC Appeal Timing

The timing of any SEC appeal could prove pivotal as crypto has become a hot topic in the US primaries and the US Presidential Election.

A Trump victory could end SEC Chair Gary Gensler’s tenure. Trump previously vowed to fire Gensler on his first day in office. A more crypto-friendly Congress could also pass legislation clarifying whether crypto is a security asset, possibly ending any SEC appeals.

XRP Price Trends Amid SEC Appeal Speculation

Price trends will likely depend on SEC appeals against rulings in the Ripple case. If the SEC appeals, XRP may drop below $0.4. Conversely, XRP could target $1.00 if the SEC does not file an appeal notice, mirroring the market’s response to the Programmatic Sales of XRP ruling.

Investors should closely monitor appeal-related news, which could significantly impact XRP price trends. Stay updated with our latest news and analysis to manage your exposure to XRP and the broader crypto market.

XRP Price Action

Daily Chart

XRP remained below the 50-day and 200-day EMAs, sending bearish price signals.

A breakout from the 200-day EMA could support a move toward the 50-day EMA and the $0.5739 resistance level. Furthermore, a break above the $0.5739 resistance level may give the bulls a run at $0.60.

SEC activity, SEC vs. crypto case-related updates require consideration.

Conversely, a drop below the $0.50 level may signal a fall toward the top trend line.

With a 14-day RSI reading of 42.08, XRP may drop to $0.50 before entering oversold territory.