In the wake of the ongoing SEC v Ripple case, Ripple's digital currency, XRP, managed to maintain its position above the 50-day and 200-day Exponential Moving Averages (EMAs) today. Despite the lack of a joint briefing schedule, which could potentially impact market sentiment, XRP held steady. Bulls are eyeing a potential surge towards Monday's high of $0.7328, provided it can surpass the resistance level of $0.7047.
On Wednesday, XRP witnessed a marginal rise of 0.25% after Tuesday's significant 4.10% dip, closing at $0.6873. This occurred amidst the ongoing legal proceedings between the SEC and Ripple. The two parties were due to present a proposal as per Judge Torres' order, but indications of non-progress signal a contested briefing schedule.
Earlier in the week, Metaco – a company previously purchased by Ripple – announced HSBC's digital asset service for institutional clients investing in tokenized securities. This development highlights Ripple's continued influence in the digital asset space despite ongoing legal challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.