CandleFocus XRP Rockets 40% in Volume Amid Fresh Ripple Lawsuit Update: Details
2024-11-01
Author: Content Editor
XRP, the seventh largest cryptocurrency, has experienced a significant increase in trading volumes, rising by over 40% in the last 24 hours. This surge coincides with an update in the Ripple-SEC lawsuit, as the SEC has been granted a deadline to file its principal brief in the appeals process. The increase in trading activity may be due to market participants speculating on the potential outcomes of the lawsuit. XRP's volume spike also aligns with a broader market sell-off, with Bitcoin falling below the $70,000 mark. At the time of writing, XRP was trading at $0.517, facing resistance at $0.53. If the price falls below $0.50, it may indicate continued bearish sentiment.
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