CandleFocus AI predicts XRP price for October 31, 2024
2024-10-03
Author: Content Editor
The United States Securities and Exchange Commission (SEC) has appealed a ruling against blockchain company Ripple over its sales of XRP, reigniting the legal fight. The SEC's appeal has raised concerns about the future of XRP, with AI algorithms predicting further declines in its price. However, some crypto experts believe that the appeal will not have a long-term impact on the token's price. Currently, XRP is experiencing a drop in price, potentially due to the recent development in the Ripple v. SEC case and the upcoming unlock of 1 billion XRP from Ripple's distribution escrows. The approval of an XRP exchange-traded product (ETP) filed by Bitwise could potentially bring relief to XRP's price. Overall, while the AI algorithms are pessimistic, investors should conduct their own research before making investment decisions.
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