The US Securities and Exchange Commission (SEC) has decided not to appeal a court ruling that determined Ripple’s institutional sales of XRP satisfied the Howey test, which determines if an offer is an investment contract. However, the SEC still intends to appeal other rulings regarding Ripple’s programmatic exchange sales of XRP and its distributions of XRP as payment for services. XRP’s price has seen a modest recovery but faces resistance at $0.54, with potential for short-term volatility. A close above $0.54 could lead to a rise towards resistance at $0.61, while further selling could push prices back to lower support at $0.42.
AI Sentiment: Positive
