Ripple’s native cryptocurrency XRP has seen a 4.40 percent increase in the last week, trading above $0.52. Ripple’s Chief Legal Officer, Stuart Alderoty, shared banners on social media suggesting the US Supreme Court’s intention to curb the power of federal agencies. XRP’s price action currently places it above the 200-day EMA while below the 50-day EMA, signaling mixed short-term and long-term prospects.The US Supreme Court is reportedly planning to reexamine the Chevron Deference Doctrine, which originates from a 1984 case involving Chevron and the Natural Resources Defense Council (NRDC). Abolishing the Chevron Deference Doctrine could potentially lead to legal chaos, as it would empower judges to choose their preferred interpretation of a statute.A crucial pivot for XRP would be a breakout above the 50-day EMA, signifying a possible reversal of the near-term bearish trend and providing momentum toward the trend line. Investor sentiment in the XRP market is expected to be influenced by commentary from US lawmakers, SEC activities, and updates on ongoing SEC cases involving Coinbase (COIN) and Ripple.Several market analysts have been giving ambitious price targets for XRP, with some believing that XRP can easily hit a new all-time high as Ripple gears up for its IPO launch. Linda P. Jones, an expert in Wall Street matters, has suggested that Ripple’s post-IPO valuation could mirror or even surpass Coinbase’s impressive performance.Ripple’s planned departure from Fortress Trust in September could be attributed to the substantial legal expenses associated with the SEC case, amounting to $200 million. Recent price gains in XRP might be partly influenced by this development, as well as concerns raised during a hearing featuring SEC Commissioner Gary Gensler. Investors can buy XRP easily and with low fees via PayPal and credit card on America’s most trusted crypto exchange.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	8
People	Gary Gensler, Linda P. Jones, Stuart Alderoty
Companies	SEC, US Supreme Court, Fortress Trust., Natural Resources Defense Council, Coinbase, NRDC, FCA, Chevron, eToro, CySEC, FINRA
Currencies	US Dollar, Ethereum, XRP, Bitcoin, Euro
Securities	None