XRP Price Holds Strong Despite SEC Appeal: Could $0.51 Be the New Bottom?

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The recent crash on October 2 has left the XRP market in turmoil, with prices dipping below $0.5. Following the SEC’s latest appeal in the Ripple case, investors are on high alert. Pro-Crypto lawyer Bill Morgan suggests this drop might be the new bottom for XRP, especially after it quickly recovers above $0.54. Will XRP recover, or is this just the beginning?

Ripple VS SEC Case Affects XRP Price

The SEC lawsuit, which started almost four years ago, initially pushed XRP’s price down to historic lows of $0.32 from its ATH price of $3.34, reflecting a plunge of almost 10x. 

With the end of the long-going case ripple vs sec, the price of XRP seems to still struggle. YouTuber Moon Lambo highlighted that XRP’s price has held steady over the past month, moving from $0.52 on September 6th to just over $0.53 now, suggesting that the SEC’s latest move might not impact XRP’s price as much as expected. 

According to Moon Lambo, the market’s message seems clear: “The SEC appeal in the Ripple case DOES. NOT. MATTER.”

Is $0.51 Now a Strong Level for XRP?

Adding to Moon Lambo’s view, Bill Morgan suggests the dip to $0.51 might even signal a strong support level for XRP. Many in the crypto world see this as evidence of market confidence in XRP’s future, believing the coin’s resilience through legal battles could lead to a stronger base. 

If $0.51 does hold as a support, it could open doors for a potential price rally. However, Ripple’s growing partnerships and global reach may further strengthen this support, encouraging investors to see XRP as a valuable asset. 

For now, the market’s calm reaction to the SEC’s appeal shows that XRP’s value may be evolving, building optimism about its future among both supporters and traders.