XRP Market Analysis: SEC Testimony and Price Trends
Wednesday, 25 September 2024, 18:33
Market Overview
XRP tracks market decline, falling by 1.24% on September 25, closing at $0.5837 despite outperforming the broader market's drop. The total market cap reaches $2.168 trillion as concerns about regulatory actions intensify.
SEC Testimony Highlights
- Ripple Chief Legal Officer Stuart Alderoty echoes calls for support of digital assets from U.S. officials.
- Critiques of SEC Chairman Gary Gensler's approach to digital assets resonate within the community.
- Pro-crypto lawyer James 'MetaLawMan' Murphy voices skepticism about forthcoming SEC reforms.
XRP Price Trends and Predictions
Future price movements of XRP hinge on SEC appeal decisions.
- If the SEC appeals the Programmatic Sales ruling, XRP may decline to $0.40.
- Without an appeal, a target of $1.00 is possible.
Investors should closely monitor developments related to SEC actions, as they are likely to dictate XRP's price fluctuations. XRP's movement within key EMAs illustrates potential bullish signals.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.