Is XRP out of the woods yet following its latest price move? We explore the key reason for the outcome and the SEC's involvement.
XRP responds positively after the SEC missed a key deadline for its appeal filing to challenge previous ruling in regards to XRP’s status as a security.is finally showing signs of life after previously being stuck in a rut were prices stagnated in a sideways motion. The cryptocurrency demonstrated a build-up of bullish momentum especially in the last two days and this could have something to do with the SEC’s appeal deadline.
XRP also demonstrated low participation in the latest rally in the market where most other coins enjoyed significant upside. However, bullish momentum has been building up this week.XRP traded at $0.55 at press time after a slight pullback. Nevertheless, the cryptocurrency has demonstrated a surge in demand in the last two days.
Details regarding the SEC’s failure to file the appeal were scanty at the time of writing. However, the market’s outcome underscores some relief among investors.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
200M XRP moved: Ripple’s strategic transfer sparks market buzzRipple transfers $117.6 million worth of XRP. Positive market sentiment persists despite the monthly decline
Read more »
Ripple price stays below $0.60 as whales snap up $228M in XRPThe Ripple price trend has not stopped its positive momentum, as the movements of whales and institutions signal positive trends.
Read more »
Ripple whales accumulate as XRP struggles with key resistanceRipple struggles to break key resistance levels despite whale accumulation as more XRP flows into exchanges.
Read more »
XRP rally ignites despite SEC uncertaintyXRP breaks resistance amid SEC appeal speculation, with reduced exchange outflows driving the price rally despite market caution.
Read more »
Bitwise files for XRP ETF – How did the community, XRP price react?XRP ETF filing by Bitwise has sparked crypto community reaction as pundits suggest possible approval after US elections
Read more »
Ripple Executives Criticize SEC Appeal as 'Irrational' and 'Misguided'Following a 2023 verdict that ruled secondary sales of Ripple's XRP are not securities transactions, the SEC has appealed the decision. Ripple executives, including Chief Legal Officer Stuart Alderoty, criticized the SEC's tactics, calling the appeal 'pittful' and highlighting the agency's alleged disregard for legal principles in favor of aggressive action against the cryptocurrency industry.
Read more »