Ripple 的 XRP 地位受到批評：里程碑式的裁決面臨危險

Ripple 於 2023 年 7 月做出的​​裁決將 XRP 歸類為二級銷售中的非證券，該裁決面臨被推翻的可能性。兩名聯邦法官批評托雷斯法官在裁決中應用豪伊測試，引發了對其一致性的擔憂。 Ripple 仍然將 XRP 歸類為機構銷售中的證券。儘管存在潛在風險，XRP 價格仍表現出彈性，並保持在 0.60 美元的關鍵水平之上。

Ripple Ruling in Jeopardy: XRP's Security Status Hangs in the Balance

Ripple 裁決岌岌可危：XRP 的安全狀況懸而未決

The legal battle surrounding Ripple's XRP cryptocurrency has taken a dramatic turn, with the landmark July 2023 ruling labeling XRP as a non-security in secondary sales now facing the threat of being overturned. Two federal judges have dismissed the application of the Howey Test to XRP, casting doubt on the previous classification.

圍繞 Ripple 的 XRP 加密貨幣的法律鬥爭發生了戲劇性的轉變，2023 年 7 月具有里程碑意義的裁決將 XRP 標記為二級銷售中的非證券，現在面臨被推翻的威脅。兩名聯邦法官駁回了 Howey 測試對 XRP 的應用，並對先前的分類提出了質疑。

XRP's Contested Security Status

XRP 有爭議的安全狀態

The July 2023 ruling by Judge Analisa Torres differentiated between XRP sales on exchanges, deeming them "non-security" transactions, and institutional sales conducted by Ripple itself, which were classified as "securities." This distinction was based on the application of the Howey Test, a legal framework designed to determine whether an asset qualifies as an investment contract and, therefore, a security under federal law.

法官 Analisa Torres 於 2023 年 7 月做出的​​裁決對交易所的 XRP 銷售進行了區分，將其視為“非證券”交易，而 Ripple 本身進行的機構銷售則被歸類為“證券”。這種區別是基於豪伊測試的應用，這是一個法律框架，旨在確定資產是否符合投資合約的資格，從而確定聯邦法律下的證券的資格。

Challenged Application of the Howey Test

Howey 測試的應用受到挑戰

The Howey Test requires an asset to meet four criteria to be considered a security: an investment of money, an expectation of profit, a common enterprise, and reliance on the efforts of others. Judge Torres's application of the test to XRP has come under fire, with critics arguing that it was improperly applied.

豪伊測試要求資產滿足四個標準才能被視為證券：金錢投資、利潤預期、共同企業、對他人努力的依賴。托雷斯法官對 XRP 的測試應用受到了批評，批評者認為該測試應用不當。

Two federal judges presiding over unrelated cases have now expressed skepticism about the logic behind Judge Torres's ruling. They maintain that the Howey Test is not suitable for determining the security status of digital assets like XRP, which possess unique characteristics.

負責審理不相關案件的兩名聯邦法官現在對托雷斯法官裁決背後的邏輯表示懷疑。他們認為，Howey 測試不適合確定 XRP 等具有獨特特徵的數位資產的安全狀態。

American Journalist Highlights 'Incoherence'

美國記者強調“不連貫”

Charles Gasparino, an American journalist and XRP expert, has highlighted the "incoherence" of Judge Torres's application of the Howey Test. He notes that the ruling failed to address the "decentralized" nature of XRP and its use as a "currency" rather than an "investment contract."

美國記者兼 XRP 專家查爾斯·加斯帕里諾 (Charles Gasparino) 強調了托雷斯法官對豪伊測試的應用「不連貫」。他指出，該裁決未能解決 XRP 的「去中心化」性質及其作為「貨幣」而非「投資合約」的用途。

Market Reaction and Ripple's Response

市場反應和Ripple的反應

The news of the challenged ruling has sent shockwaves through the XRP community. Traders and investors are speculating on the potential consequences for the cryptocurrency's price and regulatory status.

受到質疑的裁決的消息在 XRP 社區引起了震動。交易員和投資者正在猜測加密貨幣價格和監管狀況的潛在後果。

Ripple's Chief Legal Officer, Stuart Alderoty, has acknowledged the skepticism expressed by the federal judges, suggesting that the company is prepared to defend its position. Alderoty has also commented on the ongoing lawsuit against the Securities and Exchange Commission (SEC), expressing confidence in Ripple's ability to produce evidence that XRP is not a security.

Ripple 的首席法律官 Stuart Alderoty 承認聯邦法官表達的懷疑，並暗示該公司準備捍衛其立場。 Alderoty 也對正在進行的針對美國證券交易委員會 (SEC) 的訴訟發表了評論，表示相信 Ripple 有能力提供 XRP 不是證券的證明。

Whale Accumulation and XRP's Price Trend

鯨魚累積和 XRP 的價格趨勢

Despite the uncertainty surrounding the legal status of XRP, on-chain metrics indicate that whales, or large holders, have been accumulating the cryptocurrency. Data from Santiment shows a significant increase in the holdings of XRP whales, particularly those holding between 10 million and 100 million tokens.

儘管 XRP 的法律地位存在不確定性，但鏈上指標表明鯨魚或大持有者一直在累積這種加密貨幣。 Santiment 的數據顯示，XRP 鯨魚的持有量顯著增加，尤其是那些持有 1,000 萬至 1 億枚代幣的鯨魚。

This accumulation suggests that whales are betting on XRP's long-term potential, regardless of the regulatory headwinds. The price of XRP has remained relatively stable, trading above the psychologically important $0.60 level, despite the recent market turmoil.

這種累積表明，無論監管阻力如何，鯨魚都在押注 XRP 的長期潛力。儘管最近市場動盪，XRP 的價格仍保持相對穩定，交易價格高於 0.60 美元的重要心理水平。

Technical Analysis: XRP's Potential Recovery

技術分析：XRP 的潛在復甦

Technical analysis of XRP's price chart indicates a bullish trend. The altcoin has been consolidating within a tight range for over a year, with the support level at $0.60 remaining intact.

XRP 價格圖表的技術分析顯示看漲趨勢。一年多來，山寨幣一直在窄幅區間內盤整，0.60 美元的支撐位保持不變。

Indicators such as the Relative Strength Index (RSI) and the Awesome Oscillator (AO) suggest that buyers are still in control of Ripple. A recovery to the year-to-date peak of $0.7440 is a possibility, representing a potential gain of approximately 16% from the current price.

相對強弱指數（RSI）和動量震盪指標（AO）等指標顯示買家仍在控制瑞波幣。有可能恢復到年初至今的峰值 0.7440 美元，這意味著較當前價格有約 16% 的潛在收益。

However, traders should remain cautious and monitor Bitcoin's price action, as a correction in the leading cryptocurrency could impact the altcoin market, including XRP.

然而，交易者應保持謹慎並監控比特幣的價格走勢，因為主要加密貨幣的調整可能會影響包括 XRP 在內的山寨幣市場。

Conclusion

結論

The Ripple ruling that labeled XRP as a non-security in secondary sales is facing a significant challenge. The application of the Howey Test to XRP has been questioned by two federal judges, casting doubt on the validity of the classification.

Ripple 將 XRP 標記為二級銷售非證券的裁決面臨重大挑戰。 Howey 測試在 XRP 上的應用受到了兩名聯邦法官的質疑，對分類的有效性產生了懷疑。

The legal battle between Ripple and the SEC is ongoing, and the outcome will ultimately determine the regulatory status of XRP. Despite the uncertainty, whales continue to accumulate the cryptocurrency, and technical analysis suggests a potential recovery in the near future.

Ripple 與 SEC 之間的法律鬥爭正在進行中，結果將最終決定 XRP 的監管地位。儘管存在不確定性，鯨魚仍在繼續累積加密貨幣，技術分析表明在不久的將來可能會復甦。