Ripple price staged a significant comeback this week after the developers won an important case in the United States.

Ripple’s Win vs SEC

The XRP token rose for the third consecutive day, reaching a high of $0.6430. This marks a 48% increase from its lowest point this month and a 70% rise from its July low.

In a US court ruling, the judge ordered Ripple to pay a $125 million fine, significantly lower than the $2 billion the SEC was seeking. The court also placed an injunction on Ripple against certain activities. Attorney Jeremy Hogan noted that it was a substantial win for Ripple.

Implications of the Ruling

Hogan clarified that Ripple can still sell most of its XRP and ODL tokens since they are not under US jurisdiction. The company can also sell XRP to institutions under specific exemptions.

I see lots of questions regarding what the injunction means for ODL sales. I don’t see it changing the status quo at all for several reasons.

Ripple has stated that the majority of its XRP and ODL sales occur outside the US jurisdiction and are not subject to the ruling.

Broader Market Impact

Ripple’s victory has triggered an upside among other altcoins, signaling a potential winning chance if the SEC sues. Recently, the SEC backed down on claiming that cryptocurrencies like Solana, Cardano, and Polygon were securities in an ongoing case against Binance.

The most directly affected token in Ripple’s ruling was Stellar Lumens, a popular cryptocurrency with a market cap of almost $2 billion. Ripple and Stellar share a similar goal of solving the cash remittance issue by partnering with major institutions. Stellar’s founder, Jed McCaleb, was a co-founder of Ripple.

XRP Price Outlook

Despite the excitement around the Ripple vs SEC ruling, there is a risk that XRP could face a reversal in the coming days. A potential settlement between Ripple and the SEC was anticipated, leading to a possibility of traders selling the news.

A historical example is the initial ruling in June last year when XRP rose from $0.47 to a high of $0.9322, only to resume a downward trend, reaching a low of $0.382 in July.

XRP price needs to rise above the key resistance point at $0.6586 (July 31 high) to maintain its uptrend. Moving above this level will invalidate a double-top pattern with a neckline at $0.3812, increasing the possibility of the token rising by 23% to $0.7490.

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