2022-05-18 07:00:29

Ripple (XRP) Struggles To Breach $0.45 Level, Down 16% In Last 7 Days

Ripple (XRP) has managed to make a quick rebound at the end of the week. That said — will Ripple go bullish at least for the short term? On the chart, XRP is seen to be cascading downward. The current support zone is set at $0.33 which has helped skew the decline in price. Now, in order to stay afloat, the bulls should manage to keep Ripple’s price point above this mark. When done successfully, Ripple (XRP) will tend to move above the static resistance line; specifically at $0.55, and then move to $0.68. As of this writing, the crypto is trading at $0.430831 on Coingecko, down 16% in the last seven days. Suggested Reading | Cardano (ADA) Could Slide Back To $0.40 – But $0.68 Still Doable SEC Vs. Ripple Case – Receiving Positive Response Sunday was a good day for Ripple as it went up by 5.07% which happened following Saturday’s gain of 0.92% However, XRP ended the week on a sour note as it spiraled down by 21% to $O0.4475. XRP was down despite the positive turnout on Ripple’s court submission on Friday following the SEC v. Ripple case. Ripple has evidently filed a reply last week to SEC in relation to the William Hinman’s speech made in 2018. Hinman, ex-SEC Director of the Division of Corporation Finance, is the main or pivotal figure in this legal battle between SEC and Ripple. In Hinman’s speech in 2018, he mentioned that Bitcoin and Ethereum are not securities. SEC is now trying to cover up emails and other docume...

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.