Ripple·SEC appeal decision imminent…"$2.98 is the short-term support level"

JOON HYOUNG LEE

Summary

It was reported that the U.S. Securities and Exchange Commission (SEC) is close to making a decision on whether to withdraw its appeal against Ripple.
This decision draws attention as it may resolve both the security status of XRP and the long-standing regulatory uncertainty.
The short-term support level for XRP is $2.98, and if it holds this range, the upside target is said to be $3.05~$3.14.

The U.S. Securities and Exchange Commission (SEC) is nearing a decision on its appeal against Ripple, the issuer of XRP.

According to CoinDesk on the 7th (local time), the SEC is set to deliberate today on whether to withdraw its appeal against Ripple. CoinDesk stated, "This review could determine the security status of XRP under U.S. law," adding, "It may result in resolving the long-standing regulatory uncertainty."

Buoyed by expectations that judicial risks will be eased, the price of XRP is also on the rise. As of 5:27 PM that day, XRP was trading at $3.00 on CoinMarketCap, up 1.84% from the previous day.

The short-term support level is cited as $2.98. CoinDesk commented, "Currently, $2.98 is acting as a short-term support level," and noted, "If (the price of XRP) holds this range, the upside target is $3.05~$3.14."

XRP