XRP Bulls Fail to Reappear, is $0.30 Incoming? (Ripple Price Analysis)

Things are not looking good for XRP as its price has failed to reclaim a significant resistance level and seems likely to drop lower. The market is currently struggling to remain in a range, and it could initiate the next bearish leg down.

Timeline of Xrp

Surangel Whipps Jr, the president of Palau, confirmed the country's plans to collaborate with Ripple on the launch of a national stablecoin in a recent interview with Bloomberg. According to Whipps Jr., the launch of a national stablecoin is part of the country's efforts to build a digital economy.

XRP Lawsuit: The long running legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple is heading toward the much anticipated Summary Judgment. Both parties are done with submitting all the briefs regarding the Summary ruling.

With the cryptocurrency community still awaiting the outcome of the Ripple v. Securities Exchange Commission (SEC) lawsuit, investors are keeping a close eye on the price of XRP heading into 2023.

As the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) draws to a close and all eyes are on Judge Analisa Torres, the U.S. Department of Justice may have provided another argument for Brad Garlinghouse and his company. In recent court filings by the U.S.

Ripple's cross-border settlement token, XRP, has lately been on a short-term relief rally, although experiencing a complete roller coaster ride this year. Since the onset of the Securities and Exchange Commission (SEC) vs.

XRP is recording a short-term rally after days of consolidating around the $0.35 zone at a time the cryptocurrency community is awaiting the outcome from Ripple and the Securities Exchange Commission (SEC) court case. 

The ongoing sideways trend in XRP price has shaped into a head and shoulder pattern. The altcoin has been working on this pattern for nearly six months, preparing for a potential downfall.

As Ripple is in the eye of a storm facing the United States Securities and Exchange Commission (SEC) in a court case after the regulator sued the blockchain company for illegally selling over $1.3 billion worth of XRP tokens, a self-proclaimed Satoshi Nakamoto has launched a verbal assault on the digital asset.

XRP News: The global crypto market has been stuck in a stagnant phase as investors look disinterested in putting their money in the market. The biggest crypto like Bitcoin (BTC) price and Ethereum (ETH) price has registered marginal price drops over the past 7 days.

On December 24, a heated war of words began between Ripple CTO David Schwartz and self-proclaimed Bitcoin inventor Craig Wright. The initially innocuous discussion about the institutional acceptance of Bitcoin turned into a heated debate about the legitimacy of XRP with savage insults.