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1. Regulatory Pressure Mounts: SEC’s Appeal Shakes the Market

The U.S. Securities and Exchange Commission (SEC) filed an appeal against the recent ruling that favored Ripple, contesting that programmatic sales of XRP on secondary markets are not securities transactions. This development caused XRP to plunge by 12%, from $0.60 to $0.52. Ripple’s Chief Legal Officer and CEO both expressed disappointment with the SEC’s persistence, calling the appeal “disappointing but not surprising”​(Techopedia)(Invezz).


2. Business Expansion Continues Amid Legal Struggles: Ripple Expands in Latin America

Despite the ongoing legal battle, Ripple continues to expand its payment services. Recently, the company launched a new payment platform in Brazil through Mercado Bitcoin, increasing its reach in Latin America. This business expansion is seen as a long-term positive factor for XRP, offering stability to its utility use case despite current market volatility​(Decrypt).


3. XRP Market Sentiment: Traders Bet on a Rebound

While XRP has experienced a sharp 14.5% decline from its recent high of $0.66 to $0.57, many traders remain bullish. The derivatives market shows a positive funding rate, suggesting optimism for a price recovery ahead of the SEC’s appeal deadline on October 7. Traders are keeping a close eye on resistance levels, particularly at $0.60 and $0.63, with a potential breakout signaling renewed upward momentum​(FXEmpire).


4. Technical Outlook: Key Resistance Levels to Watch

XRP faces critical resistance levels at $0.60 and $0.63 after the recent price drop. If the token breaks through these levels, it could pave the way for a recovery. However, failure to reclaim these thresholds could extend the bearish trend. With legal developments and geopolitical tensions weighing heavily on the market, XRP’s short-term movements will likely remain highly volatile​(FXEmpire)(Invezz).



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