CryptoMediaClub
Friday, October 3, 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

ALT5 Sigma Denies SEC Probe Rumors Amid $1.5B Trump Crypto Deal

ALT5 Sigma Denies SEC Probe Rumors Amid $1.5B Trump Crypto Deal

1 month ago
Ethereum price retests key support level that preceded 60% gains in June 2022

Ethereum price retests key support level that preceded 60% gains in June 2022

2 years ago

UPbit Receives Preliminary Greenlight From Singaporean Authorities

2 years ago
Scam Operators Flourish on Huione Guarantee, Elliptic Research Reveals

Scam Operators Flourish on Huione Guarantee, Elliptic Research Reveals

1 year ago

Categories

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

Highlights

Why is Bitcoin near all-time highs? Everything that happened in crypto today

Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

PUMP Price Prediction: Key Indicator Just Flashed Green – PUMP is About to Explode Higher

CME Group to Launch 24/7 Crypto Futures and Options Trading in Early 2026

From Bitcoin to DeFi 2.0, the Trends Driving Crypto’s Future: WisdomTree Analyst

$4B BTC in 4 weeks: How Bitcoin ETFs buy more than double the BTC mined

Trending

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin
All news

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

03.10.2025
0

The market has surged to a cap of $4.18 trillion today, with the crypto price prediction for...

Will a Europe-US BTC reserve race actually happen?

Will a Europe-US BTC reserve race actually happen?

03.10.2025
XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

03.10.2025
Why is Bitcoin near all-time highs? Everything that happened in crypto today

Why is Bitcoin near all-time highs? Everything that happened in crypto today

03.10.2025
Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

03.10.2025
  • 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