CandleFocus Report: No authority in the world can freeze XRP
2024-10-07
Author: Content Editor
The article discusses how the ongoing legal battle between the SEC and Ripple Labs regarding XRP is starting to make sense. It highlights that no government entity can freeze Ripple's XRP, which could be why the SEC is pursuing legal action against the company. The article also mentions that while many coins have been frozen and moved from global circulation after hacks or thefts, XRP cannot be frozen by design. However, XRP's price has been negatively affected by the SEC's appeal of a court ruling that classified XRP as not a security. Analysts suggest that XRP should prepare for a death cross if it fails to break above the downward-trending 100-day EMA, indicating further weakness in the market.
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