The article discusses the ongoing legal battle between Ripple and the SEC regarding the classification of XRP as a security. Judge Torres is expected to take more than two weeks to deliberate on the case. The uncertainty surrounding the decision is keeping XRP within a tight range. The New York Department of Financial Services has removed XRP from its approved list of cryptocurrencies. The article also mentions the SEC’s motion for interlocutory appeal and its impact on sentiment towards Ripple and XRP. The passage of the Lummis-Gillibrand bill and favorable rulings from Judge Torres and Judge Failla could potentially reduce SEC oversight and benefit the crypto industry. Technical analysis suggests that a break above the resistance level of $0.5042 could signal a bullish move for XRP, while failure to break above this level could lead to a return to sub-$0.48.
AI Sentiment: Neutral