Ripple's XRP token has experienced a significant decrease in value, losing over 10% in the last 24 hours following the SEC's filing of a notice of appeal. The SEC is challenging a previous ruling that favored Ripple. The appeal, combined with a general market downturn, has led to many investors selling their XRP holdings, indicating a bearish sentiment. The declining Relative Strength Index (RSI) and decreasing open interest further support this bearish outlook. XRP's price is approaching a key resistance level, and if it fails to hold, it could drop to a two-month low of $0.46. However, if market sentiment becomes bullish, the price could reverse and target $0.66.
- Content Editor ( beincrypto.com )
- 2024-10-03
XRP Drops 10%, Nears 2-Month Low as SEC Files Appeal Against Ripple