SEC appeal unlikely in Ripple lawsuit, says pro-crypto attorney, XRP back above $0.57

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SEC appeal unlikely in Ripple lawsuit, says pro-crypto attorney, XRP back above $0.57
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Ripple’s (XRP) lawsuit outcome was favorable for the Securities & Exchange Commission (SEC), according to pro-crypto attorney Bill Morgan.

SEC isn’t likely to appeal ruling in Ripple lawsuit, says attorney Bill Morgan. Attorney Bill Morgan says the ruling is positive for the US regulator and shares footnotes from the final ruling for insights. XRP gains nearly 2% on Wednesday, trading back above $0.57. Ripple ’s lawsuit outcome was favorable for the Securities & Exchange Commission , according to pro-crypto attorney Bill Morgan. The final ruling in the SEC vs. Ripple lawsuit was well-received by both parties on August 7, 2024.

The Moving Average Convergence Divergence indicator shows red histogram bars under the neutral line, meaning there is an underlying negative momentum in XRP price trend. XRP/USDT daily chart If a daily candlestick closes above $0.5785, it could invalidate the bearish thesis. XRP could rally toward the psychologically important $0.6000 level seen in the XRP/USDT daily chart.

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