XRP Crashes 7% as Market Turns Red, What's Next? (Ripple Price Analysis)

Ripple faced strong rejection when attempting to breach the significant resistance region at $0.55. Currently, it's challenging to identify Ripple's direction due to the choppy price action.

Timeline of Xrp

XRP, which had made notable strides following its legal victory over the U.S. Securities and Exchange Commission (SEC), is now seeing a significant loss in momentum. The decision that XRP is not a security resulted in a surge in its price, largely driven by retail investors who were enthused by the positive court ruling.

Ducati, a renowned Italian automobile manufacturer, has waded into the Web3.0 ecosystem with its Non-Fungible Tokens (NFTs) set to launch on the XRP Ledger (XRPL). The Ducati and Ripple Partnership As announced by Ducati, it will be leveraging the powers of Ripple's XRPL technology to deploy some of the projects it is currently incubating.

​​Ducati has revealed plans for an innovative digital collectible program in collaboration with the XRP Ledger, heralding their entry into the world of Web3. The esteemed motorcycle manufacturer aims to offer enthusiasts a fresh perspective on its history, present and future through this cutting-edge initiative.

Ripple's sales in 2023 have caused mixed feelings for members of the Ripple community, with many considering it bullish for the network while others see it as detrimental to XRP's price action. What Has Happened With Ripple's Sales?

Crypto News: Hackers targeted the official Twitter account of Jeremy Hogan, an attorney who supports the XRP community in its fight against the U.S. Securities and Exchange Commission (SEC). It was John Deaton, another popular attorney who represents the more than 75,000 XRP token holders in the SEC lawsuit, who had confirmed the news to

The court's July 13 decision that XRP is not a security marks a landmark ruling, not just for Ripple but for the entire crypto industry. This is because it sets the precedent for other crypto assets and securities regulation in the U.S. and was the first industry win over the SEC.

Earlier this month, Judge Analisa Torres ruled that secondary transactions of XRP do not constitute investment contracts. The news was widely seen as being positive and the markets reacted quickly, with the cryptocurrency nearly doubling in price.

CoinDesk Journalist Nikhilesh De is raising doubts about the recent decision of the U.S. Securities and Exchange Commission (SEC) to appeal the Ripple case. “Quite a few crypto lawyers are even saying the decision itself doesn't really make a lot of sense,” said De, stirring up the already simmering legal broth surrounding Ripple's status. Mr.

Blockchain analytical firm Kaiko reported that Ripple's XRP is the top-traded altcoin for this year, with its trading volume exceeding $150 billion. XRP's trading volume completely dwarfs that of other altcoins rival significantly, with the closest being Solana's SOL, recording about $100 billion.

Ripple's XRP has been making headlines for many months now, with the excitement mostly circling around the case against the United States Securities and Exchange Commission. Earlier in July, Judge Analisa Torres ruled that secondary sales of XRP do not constitute investment contracts.