- Judge Jed Rakoff’s dismissal of the XRP vs SEC ruling has caused investors to question XRP’s future.
- XRP had fallen below the crucial support level at $0.6850 over the past 24 hours.
- At press time, XRP was changing hands at $0.6712 following a 24-hour loss of 3.26%.
The price of Ripple (XRP) printed a 24-hour loss as investors began to question its long-term prospects. The future of the remittance token is no longer secure following Judge Jed Rakoff’s dismissal of the differentiation argued in the Ripple lawsuit in recent days. As a result, there is a high possibility that XRP could plummet, erasing the gains made in the previous month.
Daily chart for XRP/USDT (Source: TradingView)
XRP’s price closed yesterday’s trading session below the 20-day EMA line at $0.6893, which resulted in a continued drop to below the crucial support at $0.6850 as well. If the altcoin closes today’s trading session below this mark, it may be at risk of falling to the 50-day EMA line in the next few days. This will see it fall to $0.6241.
This EMA line will be the remittance token’s last line of defense protecting it from a retest of the next major support level at…
The post XRP May Erase Its Monthly Gains if SEC Appeals the Verdict appeared first on Coin Edition.
The post XRP May Erase Its Monthly Gains if SEC Appeals the Verdict appeared first on Coin Edition.