CandleFocus XRP drops 4%: Is the SEC preparing to appeal by Oct 7?
2024-10-01
Author: Content Editor
In the past 24 hours, XRP has lost 4% of its value due to potential SEC appeal against Ripple and the scheduled release of 1 billion XRP tokens. Despite gaining 20% in returns this year, the court's July ruling in favor of Ripple did not prevent the dip in XRP's price. The release of additional tokens puts downward pressure on the price if demand does not meet the increased supply. The potential SEC appeal is also contributing to the uncertainty surrounding XRP. However, experts suggest that the weakness might be temporary and expect XRP's price to recover once the additional supply is absorbed by the market and if macro factors remain favorable.
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