XRP Price Broke Down from Crucial Levels, What to Expect in the Next 24 hours?

Ripple prices have been adversely impacted by the current market conditions, which have turned largely bearish in the past couple of days. Ever since the Binance & FTX brawl began, the markets have remained highly consolidated, enabling the bears to take over the rally.

Timeline of Xrp

Ripple (XRP), which has broken below the moving average lines, is in a downtrend. The altcoin has retreated after falling to a low of $0.42. XRP has reached the oversold zone as a result of the recent decline.

The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer's opinion XRP forms yet another range after breaking above the previous one in September Will the range highs see a breakout or a rejection for XRP? XRP saw positive sentiment in the market in September,

XRP price prediction remains neutral as Ripple trades within a symmetrical triangle pattern, with support at $0.4425 and resistance at $0.4845. The Securities and Exchange Commission (SEC) of the United States has requested that the deadline for filing all brief answers in support of Ripple Labs be extended until November 30, 2022. Furthermore, the SEC has requested that any additional Amicus Briefs be submitted by November 11.

A leading digital assets manager is reporting that institutional investors have been buying up XRP for the last three consecutive weeks. In its latest Digital Asset Fund Flows Weekly report, CoinShares says XRP's boost in institutional flows suggests that investors think the U.S. Securities and Exchange Commission's (SEC) lawsuit against Ripple Labs is looking weaker.

Ripple whales have maintained their swifty moves as price action continues to suffer, but where will the whales lead XRP price this time? The post Ripple Whales Move $190M in XRP in 24 Hours, but What Are They Planning?

The latest Ripple analysis suggests a bearish trend for today and supports sellers as the price has undergone a considerable decrease since morning. Although the bears were in the winning position, a downtrend has been following the price since the start of today.

The SEC always believed that XRP is a security, and the agency was pretty confident about it passing the Howey Test. The Howey test determines whether a certain asset is an investment tool or not.

U.S. Securities and Exchange Commission (SEC), Ripple and defendants and the whole crypto community are waiting for the summary judgment in the XRP lawsuit. However, the Attorney covering the crucial case has dropped good XRP news for the community.

The XRP community's fan-favorite lawyer Jeremy Hogan has once again commented via Twitter on the current state of the court case between Ripple Labs and the US Securities and Exchange Commission (SEC). Hogan cited attorney John E Deaton, who represents over 75,000 XRP investors in the litigation.

Last week was an eventful one for Ripple as the San Francisco-based company saw its allies grow in the lawsuit against the US Securities and Exchange Commission (SEC), leading to speculation that the XRP might finally break out. The post Ripple Gains New Allies Against the SEC, Improving XRP Price Forecast  appeared first on BeInCrypto.