CandleFocus XRP's 'Bearish Skew' Persists Amid 10% Price Slide Following SEC Appeal and ETF Filing
2024-10-03
Author: Content Editor
XRP has fallen by 10% due to renewed regulatory uncertainty, overshadowing optimism surrounding Bitwise's ETF filing for the cryptocurrency. Bitwise submitted an S-1 form to the SEC for an XRP ETF, but the SEC quickly filed a notice of appeal against a previous ruling on Ripple Labs' violation of securities rules. Being categorized as a security is bearish for XRP, leading to a decline in price. XRP's options market also indicates a greater risk of price decline than gains, with options traders showing a bearish sentiment towards XRP compared to bitcoin and ether.
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