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XRP Could Plunge 30% as SEC vs. Ripple Battle Renews
The U.S. Securities and Exchange Commission (SEC) has officially appealed its case against Ripple Labs over XRP. This comes after speculation over whether the regulator missed a deadline to do so.
Since the filing, the price of XRP has been on a tear, dropping 2% in 24 hours. As bearish sentiment strengthens around the altcoin, the decline could deepen. The key question now is: how far will it fall and for how long?
Ripple's Legal Challenges
In its Oct. 17 civil appeal pre-argument statement, the SEC is not contesting the ruling that sales of XRP to retail investors through exchanges are not securities.
Since the filing, the price of XRP has been on a tear, dropping 2% in 24 hours. As bearish sentiment strengthens around the altcoin, the decline could deepen. The key question now is: how far will it fall and for how long?
Ripple's Legal Challenges
In its Oct. 17 civil appeal pre-argument statement, the SEC is not contesting the ruling that sales of XRP to retail investors through exchanges are not securities.
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