Ripple (XRP) $2.35decreased by 8 %at the end of the week and fell to $ 2.3. This decrease attracts the attention of investors due to regulatory uncertainties and market dynamics. The possibility of SEC’s classification of XRP as commodity and discussions about crypto currency ETF processes may be decisive on the future of the market. At the same time, technical analysis indicators also signal signals on the possibility of the XRP recovery.
SEC Discussions and ETF Process
The US Securities and Stock Exchange Commission (SEC) discusses the possibility of classifying XRP as a commodity. This may significantly affect the regulation future of XRP. So far, the long -standing legal struggle on whether XRP is securities, continues to create uncertainty in the market.
According to FOX analysts, the new regulatory explanations of the SEC may be decisive for the ETF approval process of XRP. The delay of Altcoin ETFs may suppress XRP’s market movements. Investors carefully follow the SEC’s final decision on XRP. Possible new regulations of the SEC may play a decisive role in XRP’s price movements.
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Technical data and market movements
Following a 8 %decrease in the price of XRP at the weekend, market data gives complex signals for investors. In the derivative markets, the transaction volume of XRP increased by 12.11 %to $ 6.05 billion. 24 -hour liquidation data shows that long positions are damaged, but there is a possibility of a jam in short positions.
RSI data is 47.49. The current position of this indicator may indicate a potential upward movement. However, in order to gain a clear direction of the market, XRP needs to maintain critical support levels. According to technical analyzes, there is a possibility of recovery at existing levels, but price movements continue to be affected by regulatory uncertainties.
Ripple has applied to start a new crypto currency wallet application under the brand Ripple Ripple Custody ”. This initiative shows the purpose of expanding Ripple’s ecosystem and diversifying financial services. Investors continue to carefully monitor market movements by focusing on regulatory and technical developments about the future of XRP.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
