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The ruling that Judge Analisa Torres issued in the Ripple case, which found some sales of $XRP to be non-security offers, has been called into question by a subsequent order from a judge in the United States District Court.
In recent news, District Judge Jed Rakoff of the SDNY dealt a huge blow to the decision that had previously been made in the $XRP case. The judge’s verdict lets the Securities and Exchange Commission (SEC) continue its case against Terraform Labs, and creator Do Kwon, strongly dismissing the difference between public and institutional sales that was established in the Ripple lawsuit.
Judge Rakoff’s decision on Terraform Labs’ request to dismiss the SEC’s complaint against them was disclosed by John Reed Stark, who had previously worked as an attorney for the SEC in the agency’s Enforcement Division.
At the moment, $XRP’s support level stands at $0.65059, indicating a level at which the token has historically shown buying interest and potential price stabilization. On the other hand, the token faces a resistance level at $0.7401, marking a price point where selling pressure and profit-taking might arise.
In terms of market capitalization, $XRP presently boasts a value of $36.3 billion.
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