In the wake of encouraging news, XRP is targeting gains of more than 5% and may perhaps surpass its July 2024 high
The RUSD stablecoin continues to be tested on Ethereum and XRP Ledger as Ripple moves ahead with its initiative.
An attorney who is on the side of crypto discusses his opinions on the possibility—and what to expect—of an SEC appeal of the case verdict.
XRP aims to reclaim its July 2024 levels and achieve gains of more than 5%.
The stablecoin Ripple USD (RUSD) is undergoing significant development by the cross-border payment remittance startup Ripple (XRP). The XRP Ledger and Ethereum blockchains are currently testing the asset.
As the final verdict in the Ripple case nears, XRP investors are trying to make sense of the prospect that the Securities and Exchange Commission (SEC) may appeal.
A decline in XRP's value has been ongoing since the middle of July. Above critical support at $0.6200, the alternative currency remains stable. If the histogram bars of the Moving Average Convergence Divergence (MACD) indicator flash green, it means that the price trend of XRP is underlyingly trending positively.
Extra 5.55 percent gain potential using XRP. At$0.6602, XRP will have reached a significant milestone in its drop from its July 2023 high of $0.9380 to its July 2024 low of $0.3823, the 50% Fibonacci retracement of that loss.
If the XRP Ledger native token can find support around the $0.5972 to $0.6076 range, that will be a good sign. As XRP approaches its target of $0.6602 in July 2024, it enters an imbalance zone where it has the potential to absorb liquidity.
Advocate for cryptocurrency thinks SEC may pursue appeal
To assist XRP investors understand the possibility of an appeal by the US financial regulator, pro-crypto attorney John Deaton served as an amici, or friend of the court, in the SEC vs. Ripple action. Chair Gary Gensler of the SEC may agree with Deaton that an appeal would be a misapplication of public funds.
