The legal process for XRP Coin continues, with the SEC’s appeal extending at least another year. The price of XRP remains above $0.50. Today, Ripple’s CEO addressed questions regarding the ongoing situation at a crypto event. Bitcoin 
$91,967 has retreated to $67,400, and altcoins have once again turned red.
Comments on Ripple Lawsuit
Just hours ago, Ripple’s cross-appeal application has significant implications for altcoins. During today’s event, Garlinghouse discussed the need for clarity on whether a security contract must have an explicit agreement under the Securities Act.
Pompliano questioned him about the possibility of “crypto tokens being classified as investment contracts.” This scenario would require the Coinbase exchange and other U.S.-based crypto companies to cease their operations. The SEC only acknowledges that a few cryptocurrencies are not considered securities.
The Ripple 
$2 CEO stated that this would be catastrophic for the industry.
“If the SEC is right on this, it would be a disaster for the sector. It would only push more companies overseas.”
XRP Coin Predictions
As this article is being prepared, cryptocurrencies have experienced a rapid decline due to allegations of an investigation into Tether. Although the WSJ reported on the investigation of the largest stablecoin, the company’s CEO claims they have not received any signs in this direction. Thus, an increase in volatility is likely in the coming hours.
If we see a press release from the U.S. Department of Justice that supports the WSJ report, there could be a decline to $65,000 or possibly lower. While BTC fell to $66,000 due to the recent news, it has managed to recover to $67,200 for now.
The price of XRP Coin continues to hover at $0.51. In extreme selling conditions, losses could deepen to $0.48 and $0.43. However, with a potential reversal, support at $0.55 and $0.58 could see it rise to $0.64.
The topic of USDT and the upcoming U.S. elections pose significant risks for cryptocurrencies in the short term. Nonetheless, historical data for cryptocurrencies suggests we could see new all-time highs for BTC within a few months.
