While the XRP price is trading at $ 0.5379, up 1.25% in the last 24 hours, the crypto market is trying to recover last week’s losses.
While XRP lost 14.67%, it gained 1.57% on a monthly basis and 2.87% on an annual basis.
The coin suffered huge losses after the SEC appealed the Ripple case, but some lawyers think Ripple could win despite the appeal.
Crypto-supporting lawyer Fred Rispoli recently said Ripple has a 70 percent chance of winning if the judges are impartial.
XRP Price Analysis: Ripple Can Achieve Victory Against SEC
Speaking on the Thinking Crypto podcast, Rispoli evaluated possible scenarios regarding the Ripple-SEC appeal.
According to Rispoli, the worst scenario for Ripple is that the jury panel is impartial. In this case, the company’s chances of winning will drop to between 20 per cent and 30 per cent.
However, Rispoli suggested that even a panel of biased and neutral jurors would give Ripple more chances to win compared to the SEC.
Rispoli suggested that a neutral 2nd Circuit court has a 70% chance of upholding Judge Torres’ initial July 2023 ruling on programmed sales, which is extremely positive for Ripple. However, one of the negative points in Rispoli’s analysis of the current situation is that the appeal process will continue until early 2026.
In such a case, the XRP price may return to the black days of 2021 and 2022 and wait for concrete, positive news.
On the other hand, looking at XRP’s chart today, it continues to look weak in the short term.
XRP’s indicators suggest that it may experience some further declines in the next few days before recovering more strongly.
The relative strength index (purple) fell from around 70 to below 50 earlier in the day, indicating weak demand.
Similarly, XRP’s 30-day moving average (orange) struggling to rise towards the 200-day moving average (blue) also points to a negative trend.
The only positive sign is that whales are starting to accumulate XRP again. This suggests that they expect an upside correction to materialise soon.
Assuming that the XRP price can break the $0.54 resistance in the next few days, it could reach $0.60 by the end of October.
High Potential New Meme Tokens
With XRP not exhibiting large price movements due to the protracted SEC and Ripple litigation, many investors may prefer to turn to alternatives.
While there are many major altcoins to watch, there are also newer coins (including pre-sale tokens) with high potential.
One of these is Crypto All-Stars (STARS), a new Ethereum-based coin that has raised $2 million in its ongoing presale.
Crypto All-Stars will offer a ‘MemeVault’ that allows meme token holders to stake their funds.
Using the ERC-1155 multi-token standard, Crypto All-Stars’ contract will be able to tokenise all cryptocurrencies, including those not operating on the Ethereum blockchain.
This could lead to widespread acceptance and use of the token. In addition, the more STARS tokens users have, the more staking rewards they will earn.
Although the STARS pre-sale has entered the final stages, new investors still have the chance to participate in the pre-sale by going to the official website of Crypto All-Stars.
Currently, 1 STARS is selling for $0.0014887. However, this price is increasing at each stage of the pre-sale.