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End-of-Year Ripple Update: XRP Eyes Potential Rebound Amid Legal Uncertainties
The post End-of-Year Ripple Update: XRP Eyes Potential Rebound Amid Legal Uncertainties appeared on BitcoinEthereumNews.com. Despite this recent dip, market observers highlight signs of a possible bullish divergence, fueling optimism for XRP’s near-term price action as the year comes to a close. XRP, the cryptocurrency affiliated with blockchain firm Ripple, has shed more than 6% in the last 24 hours, making it one of the worst performers in the top 10. Price Moves and Bullish Divergence Data from the 100 eyes Crypto Scanner indicates the XRP/USDT pair has formed a bullish divergence on an hourly chart. This pattern often emerges when the Relative Strength Index (RSI) ticks up despite a falling price, hinting that bearish momentum may be weakening. Still, analysts caution that this technical signal should be viewed in tandem with other indicators. Source: x Major cryptocurrencies across the board also saw losses on thin post-Christmas trading. Cardano (ADA) is down 5.9%, Dogecoin (DOGE) lost 5.7%, and Bitcoin (BTC)—which neared the $100,000 mark during the holiday—fell by 3% amid year-end portfolio rebalancing. Ripple’s Legal Saga Enters a Critical Phase Meanwhile, the protracted legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) persists, with key deadlines in early 2025. The U.S. Court of Appeals for the Second Circuit has set January 15, 2025, for the SEC to submit its opening brief in the appeal. This follows Judge Analisa Torres’s 2023 ruling that XRP in itself is not a security, a significant win for Ripple. Ripple’s Chief Legal Officer, Stuart Alderoty, asserts that the current appeal does not challenge the fundamental question of whether XRP should be classified as a security. The company maintains that XRP should enjoy the same legal clarity as Bitcoin, with Alderoty calling for the incoming administration to “cleanse the lingering stain of Hinman” from the SEC—a reference to the controversial 2018 speech by former SEC Director William Hinman.…
The post End-of-Year Ripple Update: XRP Eyes Potential Rebound Amid Legal Uncertainties appeared on BitcoinEthereumNews.com.
Despite this recent dip, market observers highlight signs of a possible bullish divergence, fueling optimism for XRP’s near-term price action as the year comes to a close. XRP, the cryptocurrency affiliated with blockchain firm Ripple, has shed more than 6% in the last 24 hours, making it one of the worst performers in the top 10. Price Moves and Bullish Divergence Data from the 100 eyes Crypto Scanner indicates the XRP/USDT pair has formed a bullish divergence on an hourly chart. This pattern often emerges when the Relative Strength Index (RSI) ticks up despite a falling price, hinting that bearish momentum may be weakening. Still, analysts caution that this technical signal should be viewed in tandem with other indicators. Source: x Major cryptocurrencies across the board also saw losses on thin post-Christmas trading. Cardano (ADA) is down 5.9%, Dogecoin (DOGE) lost 5.7%, and Bitcoin (BTC)—which neared the $100,000 mark during the holiday—fell by 3% amid year-end portfolio rebalancing. Ripple’s Legal Saga Enters a Critical Phase Meanwhile, the protracted legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) persists, with key deadlines in early 2025. The U.S. Court of Appeals for the Second Circuit has set January 15, 2025, for the SEC to submit its opening brief in the appeal. This follows Judge Analisa Torres’s 2023 ruling that XRP in itself is not a security, a significant win for Ripple. Ripple’s Chief Legal Officer, Stuart Alderoty, asserts that the current appeal does not challenge the fundamental question of whether XRP should be classified as a security. The company maintains that XRP should enjoy the same legal clarity as Bitcoin, with Alderoty calling for the incoming administration to “cleanse the lingering stain of Hinman” from the SEC—a reference to the controversial 2018 speech by former SEC Director William Hinman.…
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