XRP Price Crumbles Under Pressure As Ripple And SEC Race To Meet Deadlines 💥
📉 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.
💥 XRP plunged from $0.7484 — the highest level achieved in 2024 to $0.5689 in tandem with Bitcoin’s dive to near $60,000. Ethereum also bled profusely, falling from above $4,000 to $3,050.
💼 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.
📅 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.
🛡️ According to information shared by @RipplePandaXRP on X, Ripple’s legal team is required to “file and edit its response to the SEC’s document by 23 April.”
💼 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.
📉 XRP price is on the cusp of sliding below Tuesday’s open at $0.5839 — a move likely to trigger more pain.
