The post XRP Price Holds Strong Despite SEC Appeal: Could $0.51 Be the New Bottom? appeared first on Coinpedia Fintech News
The recent crash on October 2 has left the XRP market in turmoil, with prices dipping below $0.5. Following the SECâs latest appeal in the Ripple case, investors are on high alert. Pro-Crypto lawyer Bill Morgan suggests this drop might be the new bottom for XRP, especially after it quickly recovers above $0.54. Will XRP recover, or is this just the beginning?
Ripple VS SEC Case Affects XRP Price
The SEC lawsuit, which started almost four years ago, initially pushed XRPâs price down to historic lows of $0.32 from its ATH price of $3.34, reflecting a plunge of almost 10x.Â
With the end of the long-going case ripple vs sec, the price of XRP seems to still struggle. YouTuber Moon Lambo highlighted that XRPâs price has held steady over the past month, moving from $0.52 on September 6th to just over $0.53 now, suggesting that the SECâs latest move might not impact XRPâs price as much as expected.Â
According to Moon Lambo, the marketâs message seems clear: âThe SEC appeal in the Ripple case DOES. NOT. MATTER.â
Is $0.51 Now a Strong Level for XRP?
Adding to Moon Lamboâs view, Bill Morgan suggests the dip to $0.51 might even signal a strong support level for XRP. Many in the crypto world see this as evidence of market confidence in XRPâs future, believing the coinâs resilience through legal battles could lead to a stronger base.Â
It initially fell to just under $0.51 after news of the appeal brokeWhen the lawsuit was filed almost 4 years ago, and XRP fell steeply in price, it reached a low point it has not seen since. Will history repeat and the post-appeal fall to 0.51 be a new bottom? https://t.co/dfZjps63wn
â bill morgan (@Belisarius2020) October 6, 2024
If $0.51 does hold as a support, it could open doors for a potential price rally. However, Rippleâs growing partnerships and global reach may further strengthen this support, encouraging investors to see XRP as a valuable asset.Â
For now, the marketâs calm reaction to the SECâs appeal shows that XRPâs value may be evolving, building optimism about its future among both supporters and traders.