Judge Torres has rejected the SEC’s appeal bid in the lawsuit against Ripple, ordering both parties to file their pretrial motions before the end of the year. The SEC sued Ripple in 2020, accusing the company of selling unregistered securities. While Judge Torres ruled in July that XRP sales on third-party platforms were not securities, direct sales to institutions were deemed as such. The SEC intended to appeal the ruling on programmatic sales of the token, but the appeal bid has been rejected. Traders are advised to consider new long positions in XRP, as the Moving Average Convergence Divergence (MACD) indicator suggests a bullish outlook. An incoming golden cross, where short-term moving averages cross above long-term moving averages, may further support the expected rally.
AI Sentiment: Positive
