Ripple’s ongoing legal battle with the SEC has taken a fresh turn with the company filing a cross-appeal, pushing the XRP price up by 2.5% to $0.54 in the last 24 hours. Legal experts are optimistic about Ripple’s chances, hinting at more significant price movement in the coming weeks.

Ripple’s Cross-Appeal Explained

Ripple’s cross-appeal challenges the SEC’s claim that XRP sales to institutions constituted investment contracts. Lawyer James A. Murphy suggested that these transactions were not investment contracts under the Howey Test, a key point now central to Ripple’s legal defense. Ripple’s legal counsel, Stuart Alderoty, confirmed the filing of the cross-appeal, aligning with expert opinions that the case may now favour the cryptocurrency company.

Potential Outcomes of the SEC Appeal

Legal opinions are increasingly supportive of Ripple, with attorney Jeremy Hogan predicting that the SEC is “very very likely to lose.” Even in the worst-case scenario, Ripple might only face another financial penalty rather than severe repercussions, which bodes well for XRP holders and market participants.

XRP Price Analysis and Market Outlook

XRP‘s price reflects renewed optimism, with technical indicators such as the 30-period moving average showing a bullish trend. The coin’s relative strength index has also risen above 60, suggesting continued upward momentum. If XRP can surpass its current resistance level of $0.55, it might reach $0.60 by the end of October.

While XRP sees gradual progress, traders seeking quicker returns may look towards smaller-cap tokens like Crypto All-Stars (STARS). This new Ethereum-based project has raised over $2.1 million and features a unique staking protocol called ‘MemeVault’. With strong community support and growing interest, STARS may provide significant upside in the near future.