Ripple Is Likely to Consolidate with a Potential Upside before October
Ripple (XRP) is experiencing a notable rise of 5.2% this week, reaching $0.6000, which is twice the gain of the broader market. In comparison, Bitcoin (BTC) has seen a 2.6% increase, bringing its price to $61,000. This positive movement in altcoin prices follows a significant legal development on August 7, when Judge Analisa Torres ruled that Ripple must pay a $125 million fine, a much smaller penalty than what the U.S. Securities and Exchange Commission (SEC) had originally demanded.
In addition to the reduced fine, the judge also prohibited Ripple from selling XRP to institutional investors, marking an intermediate victory for the company. The SEC has 60 days, until October 7, to file an appeal. If the SEC does not file an appeal, Ripple’s victory could become final. Until then, XRP prices are expected to consolidate within an ascending triangle pattern, which often signals the potential for further upside movement.
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