XRP Price Tanks Under $0.50 As SEC Files Interlocutory Motion
With this, the cryptocurrency has lost all the gains after the XRP lawsuit ruling last month in July 2023. Furthermore, SEC’s filing for an interlocutory motion against the court ruling has further created a negative sentiment around XRP. advertisement Judge Torres decided to approve the SEC’s request and granted the regulator until August 18 to submit its opposing motion. The Judge also allowed Ripple Labs the opportunity to file its opposition papers by September 1. If needed, the SEC will have an additional chance to respond by September 8. XRP Technical Chart and Further Price Action Ripple’s XRP faced difficulty surpassing the $0.65 resistance against the US Dollar and began a fresh decline. It underwent a significant drop below the $0.550 support area. Presently, XRP is trading below $0.55 and the 100 simple moving average over a 4-hour timeframe. On the 4-hour chart of the XRP/USD pair, a notable bearish trend line is forming wit...