XRP to Target $0.40 on Renewed Optimism Toward the SEC v Ripple Case

Tuesday saw a growth of 2.68% in XRP. On Monday, XRP gained 0.92% and closed the day at $0.38015. Notably, for the first time in six hours, XRP ended the day at $0.38 levels.

XRP experienced a negative start to the day, dropping to an early morning low of $0.36702. The price of XRP increased to a late high of $0.38430 while avoiding the First Significant Support Line (S1) at $0.3619. Before relaxing back to finish the day at $0.38015, XRP momentarily broke through the Second Major Resistance Level (R2) at $0.3820 and the First Major Resistance Level (R1) at $0.3761.

Rules in the SEC v. Ripple Lawsuit Promote XRP price by delivering

Buyers continued to react to the court decisions from the SEC v. Ripple lawsuit issued on Monday. Both requests from each party were allowed and refused by presiding judge Torres. But more petitions from the SEC to exclude expert witness evidence were rejected by the Judges, giving the Respondents a stronger position.

The SEC v. Ripple case, whose resolution could be crucial for the larger digital asset sector, has come back into the market's attention as a result of the most recent Court decisions. The absence of a legal structure for cryptocurrencies has allowed the SEC to impose regulations.

"The headwinds keep growing - with the SEC declaring war on cryptocurrency, Chair Gensler continues to harp that firms simply need to come in and register, but the truth is that there's no infrastructure in place for a registered token to trade nor any clarity as to what these tokens are," said Brad Garlinghouse, CEO of Ripple.

"If you want to restrict, then govern," the President of Ripple continued. Put in the effort to create a structure and establish guidelines, as so many other G20 nations already are. The 27 EU members can reach a consensus with MiCA on a collection of regulations. What is preventing the US?

The Coming Day

The SEC v. Ripple lawsuit is expected to continue to generate more news coverage and discussion than other crypto-related developments. Investors will be watching Court decisions pertaining to the Hinman Papers that could have a significant effect on the case after the Court judgments on Monday.

After failing to protect the totality of the Hinman papers under the attorney-client confidentiality, investors are awaiting a decision on an SEC Request to Redact Certain Content. If the SEC loses, there may be talk of a potential compromise.