The US SEC has appealed its case against Ripple Labs concerning XRP, raising the prospect of a significant price drop. The regulatory body is not appealing the decision that XRP sales to retail investors aren't securities but questions past proceedings regarding Ripple's executives.
Since the appeal, XRP has seen a 2% decline in price, with an increased NVT ratio indicating overvaluation amid the price dip. Bearish signals suggest further falls, though long-term holders remain steady, reflecting stability among seasoned investors.
Short-term traders are selling, which could drive more price fluctuations. XRP currently holds at $0.54, with a critical support level at $0.52. If pressure increases, the price might plummet 30%. However, reduced selling activity and increased demand could lead to a potential rally.
