Machine learning algorithm sets XRP price for October 31, 2023

In a pivotal turn of events for Ripple, the U.S. Securities and Exchange Commission (SEC) has faced a setback as its appeal, alleging the illicit sale of securities by the company, has been dismissed. This development wielded immediate repercussions on the valuation of XRP.

The judicial favor bestowed upon Ripple unquestionably functioned as a catalyst for the fluctuation in XRP’s market value. Nonetheless, it is imperative for traders and investors to approach the situation judiciously. Despite the cryptocurrency surpassing the $0.52 resistance threshold and maintaining a position above the 50-day Exponential Moving Average (EMA), it’s premature to categorize this as a definitive breakthrough.

Concurrently, in sync with the recent proceedings, U.S. District Judge Analisa Torres rejected the SEC’s bid to appeal a segment of her earlier decision in the high-profile lawsuit against Ripple Labs.