XRP price increases against SEC after Ripple win: Can the $ 1 threshold be overcome?
XRP price increases against SEC after Ripple win: Can the $ 1 threshold be overcome?
XRP experiences a remarkable price increase after Ripple victory against sec
The cryptocurrency XRP from Ripple Labs has experienced an impressive price increase in the past few days. The price rose to over $ 0.80 and trade activity increased by 77 %. This increase was largely triggered by the partial victory of Ripple against the US stock exchange supervisory authority Securities and Exchange Commission (Sec).
In the court ruling, it was recognized that Ripple could be considered institutional sales as securities. However, it is important to note that not all other sales have been classified in a similar way. This judgment is generally considered a significant victory for Ripple Labs and its digital tokens.
currently XRP is approaching a decisive level of resistance of $ 0.85. This indicates that there is a solid purchase pressure on the market and that optimistic views for XRP exist.
Data from CoinmarketCap show that XRP is currently trading at $ 0.8368 and has an increase of 5 % in the last 24 hours. In the past seven days, cryptocurrency has experienced a significant increase in just more than 77 %.
With this remarkable growth, the market capitalization of XRP increased by more than $ 16 billion. Within a few days, it increased from $ 25 billion to $ 44 billion, with a large part of this increase in the court ruling.
Despite the impressive increase, XRP is in front of a huge resistance zone at $ 0.85. This area is characterized by high sales pressure and an increased offer, which makes it difficult for XRP to break through this level. Nevertheless, the market mood remains among the dealers Bullish, which increases the possibility that XRP overcomes the resistance area.
However, it is important to stay careful and take historical patterns into account. After strong upward trends, crypto-assets typically go through a consolidation or correction phase before there is a further upward movement. It is therefore likely that the XRP price will correct at short notice.Nevertheless, there is a promising chance that XRP will cross the $ 1 threshold. The positive court ruling and the increase in price and market capitalization have strengthened the trust of investors. With persistent dynamics, further profits for XRP could be possible in the coming days or weeks.
Overall, the price increase of XRP shows the potential strength of this digital tokens after the victory of Ripple against the SEC. With a strong market interest and optimistic views, XRP can continue to cause a stir. However, it remains to be seen how the market is developing and whether XRP is able to overcome the resistance at $ 0.85. Investors must therefore be careful and adapt their strategies accordingly.
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