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XRP continues to struggle below $0.50: SEC vs. Ripple update
XRP Struggles at $0.50 – Ripple CLO Announces SEC Charges Update. Find out the latest developments and technical analysis. Discover more!
XRP continues to struggle below $0.50: SEC vs. Ripple update
XRP price has remained stuck at resistance at $0.50 for the past few days as it failed to close above this level. The latest developments show that the SEC has dropped charges against Ripple executives, Ripple CLO Stuart Alderoty announced on Tuesday. This led to Ripple filing its response to the SEC’s punitive action request by April 22nd.
While XRP holders speculated on a possible settlement between the SEC and Ripple, Alderoty shared that there was no pre-trial conference between the parties. The legal dispute between the SEC and Ripple therefore remains unresolved. The SEC is seeking $2 billion in fines and penalties against Ripple, while Ripple is betting that the court will act fairly at the remedial stage.
Technically, XRP remains below $0.50, a crucial resistance level, for the third day in a row. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) indicators suggest a lack of positive momentum. A close above $0.50 could take XRP price to further resistance zones at $0.5310 and $0.6431. The evolution of the litigation and market movements in the XRP Ledger ecosystem will continue to influence the price and future of XRP.