XRP Price Risks 30% Drop Despite Prospects of Ripple's Legal Gain
The Federal Reserve's rate hike spree is likely to spoil XRP's most bullish fundamentals in years.
Altcoin Watch
The price of Ripple (XRP) was swinging between profit and loss on September 19, despite hopes that Ripple would eventually win its long legal battle against the United States Securities and Exchange Commission (SEC).
Ripple and the SEC both agreed to expedite the trial on Friday to get an answer on whether $XRP is a security or no.
Based on case updates, it appears to be in favor of @Ripple pic.twitter.com/SAyl4VLxdM
— Jeff Sekinger (@JeffSekinger) September 19, 2022 Fed Spoils SEC Euphoria Against RippleXRP/USD fell more than 1% to $0.35 while forming extremely sharp bullish and bearish wicks on its September 19 daily candlestick. In other words, its intraday performance hints at a growing bias conflict among traders.
XRP/USD daily price chart. Source: TradingViewThe indecision could be due to XRP's exposure to catalysts other than the SEC lawsuit against Ripple....
The Federal Reserve's rate hike spree is likely to spoil XRP's most bullish fundamentals in years.
Altcoin Watch
The price of Ripple (XRP) was swinging between profit and loss on September 19, despite hopes that Ripple would eventually win its long legal battle against the United States Securities and Exchange Commission (SEC).
Ripple and the SEC both agreed to expedite the trial on Friday to get an answer on whether $XRP is a security or no.
Based on case updates, it appears to be in favor of @Ripple pic.twitter.com/SAyl4VLxdM
— Jeff Sekinger (@JeffSekinger) September 19, 2022 Fed Spoils SEC Euphoria Against RippleXRP/USD fell more than 1% to $0.35 while forming extremely sharp bullish and bearish wicks on its September 19 daily candlestick. In other words, its intraday performance hints at a growing bias conflict among traders.
XRP/USD daily price chart. Source: TradingViewThe indecision could be due to XRP's exposure to catalysts other than the SEC lawsuit against Ripple....
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