XRP Finds Respite On Binance News To Show $0.40

Ahead of Monday’s session, FTX remained in focus. Contagion fears continued to dominate the market, causing XRP to drop below $0.33 for the first time in five sessions. However, Binance news fueled XRP and a broader crypto rally.

Investors hope the recovery fund will limit the impact of the FTX crash on the broader market. The updates from the ongoing SEC v Ripple issue also provided support for the XRP price.

Court grants motions on AMICOS brief by November 18

On Monday, a court order went against the SEC. Judge Torres content Proposals for the association and six holders of XRP, Coinbase, CCI, Valhil, Cryptillian, Veri DAO, Reaper Financial, InvestReady, NSEI and Paradigm to submit their formal instructions by November 18.

Before the court’s decision, the Securities and Exchange Commission (SEC) applied for a November 11 deadline for all Amicus Brief filings. The court’s recent ruling indicates that Amicus Briefs could influence the court.

While news of Binance’s recovery fund was fundamental on Monday’s rally, Monday’s court ruling supported those who expect Ripple to win in its case against the Securities and Exchange Commission.

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