Market News Update - XRP bulls need a return to $0.40 or face sub $0.37 on SEC action

Market News Update – XRP bulls need a return to $0.40 or face sub $0.37 on SEC action

Feb 10, 2023 Admin Crypto News 0

Free Crypto Signals

XRP bulls need a return to $0.40 or face sub $0.37 on SEC action

XRP bulls have been on a roller-coaster ride over the past year. The cryptocurrency has seen some tremendous swings in its price, reaching highs of over $0.60 and lows of under $0.30. However, recent news from the U.S. Securities and Exchange Commission could be the final nail in the coffin for XRP bulls, as the SEC has moved to sue Ripple Labs and its two executives for the sale of unregistered securities.

The lawsuit has sent shockwaves through the XRP community, with the token‘s price plunging as low as $0.24. While the token has since recovered some of its losses, it still remains well below the $0.40 mark. If XRP bulls are unable to return the token to this level, then it could be facing a further drop to sub $0.37 when the SEC‘s action takes full effect.

The SEC‘s case against Ripple Labs is based on the premise that the company has been selling unregistered securities in the form of XRP tokens. As such, Ripple Labs and its two executives are liable for any violations of the securities laws. If the SEC is successful in its case, then Ripple Labs could face hefty fines and the token could be rendered worthless. XRP bulls will be hoping that the token can make a comeback, but at this point that looks unlikely. The SEC‘s case is set to drag on for some time, and if the agency succeeds in its efforts then it could spell the end of the XRP token. As such, it is highly recommended that investors take caution when investing in XRP and wait until the situation has been clarified before making any decisions. In the meantime, XRP bulls will need to make a return to the $0.40 mark or face a further drop to sub $0.37. If the SEC‘s case is successful, then this could be the final nail in the coffin for the token, so investors should proceed with caution.

AFTER POST CONTENT

Crypto is highly volatile, can become illiquid at any time, and is for investors with a high risk tolerance. Investors in crypto could lose the entire value of their investment. Here Crypto Signals Provided Free by Some of the Unknown Experts. So there is No guarantee of GAIN or LOSS. Crypto Traders are advices to Trader own their own risk. You are advised to take your position with your sense and judgment. The views and investment advise expressed by users on FreeCryptoSignals.Live website are their own, and not that of the website or its management. We (as Website - FreeCryptoSignals.Live) advises users to check with certified experts before taking any investment decisions. If any other company also giving same script and recommendation then we are not responsible for that. Click Here For Disclaimer Policy.