XRP Price Crumbles Under Pressure As Ripple And SEC Race To Meet Deadlines ๐ฅ
๐ The token powering the seventh-largest cryptocurrency ecosystem by market capitalization, XRP price, saw its plans of reaching $1 in March go up in flames as cryptocurrencies generally corrected from their recent highs.
๐ฅ XRP plunged from $0.7484 โ the highest level achieved in 2024 to $0.5689 in tandem with Bitcoinโs dive to near $60,000. Ethereum also bled profusely, falling from above $4,000 to $3,050.
๐ผ After a 15% decline, the price of XRP holds at $0.5835. Several four-hour candle closing below the crucial level at $0.6 implies that the downtrend may be far from over.
๐ New developments in the case between Ripple, the issuer of XRP, and the Securities and Exchange (SEC), a US regulator could impact the future of XRP, especially now that both parties are expected to meet key deadlines.
๐ก๏ธ According to information shared by @RipplePandaXRP on X, Rippleโs legal team is required to โfile and edit its response to the SECโs document by 23 April.โ
๐ผ The SEC, on the other hand, will have until May 7 to formulate its case. Note that a portion of the documents will be made public on May 8.
๐ XRP price is on the cusp of sliding below Tuesdayโs open at $0.5839 โ a move likely to trigger more pain.
