CryptoMediaClub
Monday, October 27, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Altcoins

XRP Struggles Amidst Market Turmoil; Further Decline Likely?

20.08.2023
A A
0
128
VIEWS
ShareShare

XRP Struggles Amidst Market Turmoil; Further Decline Likely?

  • The price of the XRP token dropped all the way to $0.49.
  • A price drop to the next support level at $0.46 is expected if it breaches $0.49 support.

On Friday, a day after the court stated that the U.S SEC may present its argument, the regulatory agency filed for permission to appeal the judge’s judgment that XRP sales via exchanges did not violate securities legislation.

The filing read:

“The rulings that the SEC seeks to appeal were legal determinations about the existence of investment contracts based on undisputed facts. The undisputed facts (e.g., Order at 23 (Programmatic Sales are ‘blind bid/ask transactions’)) present a legal question – can an issuer’s offers and sales on crypto asset trading platforms create a reasonable expectation of profits based on the efforts of others? This legal question is at issue in a number of pending cases, and a Second Circuit ruling will have ‘precedential value.'”

Dramatic Bear Assault

Moreover, the price of Bitcoin and other leading cryptocurrencies continued their downward trend on Friday. Bitcoin’s price dropped to a two-month low as the crypto market saw one of its biggest dives of the year.

Even XRP couldn’t withstand the bear’s ferocious assault. The price of the token dropped all the way to $0.49. However, there was a brief recovery, and as of this writing, the price was trading at $0.51. The price has been consolidating, preparing for the next move, following the brief recovery.

Source: CoinMarketCap

A price drop to the next support level at $0.46 is expected if it breaches the current support level of $0.49. However, if it clearly breaks through the $0.52 short-term resistance level, a brief bullish rally is likely. In light of the current market downturn, a quick recovery for the XRP token seems doubtful. Investors may need to patiently await a definitive indication that this severe decline has bottomed out.

Share10Tweet6ShareSharePin2

Related Posts

Solana gains 80% in a month as Firedancer goes live on testnet
Altcoins

Solana gains 80% in a month as Firedancer goes live on testnet

02.11.2023
0

Solana (SOL) has posted 30-day gains of nearly 81%, and has rallied over 30% in the past week amid the...

Read moreDetails
Price analysis 10/30: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON

Price analysis 10/30: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON

30.10.2023
Bitcoin price hovers near $35K as ETH, APT, QNT and RUNE turn bullish

Bitcoin price hovers near $35K as ETH, APT, QNT and RUNE turn bullish

30.10.2023
Chainlink leads the market with 61% weekly gain — What’s driving LINK price?

Chainlink leads the market with 61% weekly gain — What’s driving LINK price?

27.10.2023
FLOKI price soars 140% in a week — Are memecoins like DOGE, PEPE finally waking up?

FLOKI price soars 140% in a week — Are memecoins like DOGE, PEPE finally waking up?

27.10.2023
Load More
Next Post
Report: Bank Error Enables Unauthorized Cash Withdrawals

Report: Bank Error Enables Unauthorized Cash Withdrawals

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin hits record price of $124k while Ethereum sits $50 away from setting new all-time high

Bitcoin hits record price of $124k while Ethereum sits $50 away from setting new all-time high

2 months ago
UK Law Commission Seeks To Classify Cryptocurrencies As “Property” In New Draft Bill

UK Law Commission Seeks To Classify Cryptocurrencies As “Property” In New Draft Bill

2 years ago
Proposed Settlement: Crypto Users Weigh Dropping Lawsuit Against Sam Bankman-Fried

Proposed Settlement: Crypto Users Weigh Dropping Lawsuit Against Sam Bankman-Fried

2 years ago
Incoming US Senate Banking Committee Chair Calls Cryptos ‘Next Wonder of the World’

Incoming US Senate Banking Committee Chair Calls Cryptos ‘Next Wonder of the World’

10 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Coinbase’s x402 AI Payments Protocol Sees 10,000% Surge in Activity

Bitcoin Price Prediction: Kiyosaki Says Path to Financial Freedom Paved With Bitcoin – Is He Right?

72-Hour Countdown: Snorter Bot Token Must Sell Out Before Claim Goes Live

Fed Rate Cut Odds Jump to 97% as CPI Comes in Cool at 3% – Bullish for BTC?

World Still Not Off the Hook: Thai SEC Raids Iris Scanning Hub Over WLD Token Breach

Bitcoin Set to Explode to $180K as Global Money Floods In: VanEck CEO

Trending

Ethereum Price Prediction: Key Weekly Bounce Confirms Strength, Eyes Crucial Resistance Breakout
All news

Ethereum Price Prediction: Key Weekly Bounce Confirms Strength, Eyes Crucial Resistance Breakout

26.10.2025
0

During the European session, Ethereum (ETH) is showing a slightly bullish bias, trading at around $3,984 level...

XRP Price Prediction: Outpacing Other Altcoins XRP Closes Week Up 11.4% – Momentum Building?

XRP Price Prediction: Outpacing Other Altcoins XRP Closes Week Up 11.4% – Momentum Building?

26.10.2025
Coinbase CEO Wants Every Startup to Launch, Fund, and IPO Onchain

Coinbase CEO Wants Every Startup to Launch, Fund, and IPO Onchain

26.10.2025
Coinbase’s x402 AI Payments Protocol Sees 10,000% Surge in Activity

Coinbase’s x402 AI Payments Protocol Sees 10,000% Surge in Activity

26.10.2025
Bitcoin Price Prediction: Kiyosaki Says Path to Financial Freedom Paved With Bitcoin – Is He Right?

Bitcoin Price Prediction: Kiyosaki Says Path to Financial Freedom Paved With Bitcoin – Is He Right?

26.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz