Bank of America increased its outlook to $58 from $49 and reiterated its underperform rating. Citi raised its forecast to $105 from $65, but maintained its neutral rating. Both firms lifted their price targets on the shares, however. Plus, the SEC is likely to appeal the ruling and the securities regulator's lawsuit against Coinbase, which it brought in June. With that said, the judge in the XRP case did not comment broadly on whether secondary market sales on exchanges constitute an investment contract," Kupferberg said in a Tuesday note. Meanwhile, Bank of America's Jason Kupferberg said the rally "looks overdone." "On the surface, the legal ruling in the Ripple case appears positive for COIN. He added that although the ruling is positive, it's "not a Panacea" for Coinbase. COIN mountain COIN pops since July 13 "Despite positive elements of Ripple's surprise ruling and subsequent momentum for crypto stocks, we don't believe investors should be aggressive on recent momentum," Citi analyst Peter Christiansen said in a note Monday. Despite the ways Coinbase and the crypto industry can benefit from the ruling, the dark cloud of regulatory uncertainty hasn't gone away yet. However, some analysts noted investors should stay cautious around Coinbase for a little while longer. " The judge also ruled that Ripple violated securities laws when selling XRP to institutions but not to retail investors. Coinbase shares are up 17% since a judge in the Southern District of New York ruled that XRP was not a security " on its face. Investors shouldn't chase the Coinbase rally that was sparked by a pop in crypto asset XRP due to a partial legal win in federal court, analysts warned. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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