CandleFocus XRP Price Facing Major Problem
2024-09-07
Author: Content Editor
The S&P 500 had a bad day as stocks fluctuated ahead of U.S. jobs data. Bitcoin, seen as a risk asset, followed suit and dipped. XRP, which had been performing well, has been steadily declining since Wednesday. Ripple Labs has requested a stay on the judgment requiring them to pay $125 million to the SEC, and the SEC has agreed to the delay. Ripple also announced that it will add smart contracts to the XRP Ledger developer ecosystem. Negative sentiment dominates the crypto market as Bitcoin is predicted to dip below $50,000. Whale Alert detected a large transfer of 100 million XRP tokens to an unknown wallet, indicating some investors may be selling. From a technical analysis standpoint, XRP fell to a support level at $0.54.
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