Ripples of uncertainty continue to surround XRP, the cryptocurrency created by Ripple Labs. Once a high-flyer, XRP has seen its price plummet amidst a protracted legal battle with the US Securities and Exchange Commission (SEC). But even as dark clouds loom, some analysts see a silver lining, predicting a future surge for the digital asset. Related Reading: Forget The Price Dip: Ethereum Network Activity Hints At Imminent Takeoff A Legal Tug-of-War Dampens XRP Price The SEC lawsuit, filed in December 2020, alleges that the altcoin is an unregistered security. This classification, if upheld, could severely restrict XRP’s trading and dampen its value. The legal wrangling has taken its toll, with its price dropping a staggering 85% from its 2018 peak of $3.41. The recent months haven’t offered much respite, with XRP experiencing a near 18% decline in the last month alone. Technical Indicators Flash Red In The Short Term Technical analysis, a method used to predict price movements based on historical data, paints a concerning picture for XRP in the immediate future. Analysts point to recent price chart brea ..
Support the originator by clicking the read the rest link below.
