XRP Gives Up All Gains Made After Ripple Labs SEC Victory

[mayalily]

As traders seek to profit from price movements rather than adopting a buy-and-hold strategy, the overall market's bearish sentiment has put pressure on tokens that might have otherwise been supported by favourable fundamentals.

According to data, since Ripple Labs' historic court victory over the U.S. Securities and Exchange Commission (SEC) in July, nearly all gains made by XRP, one of the largest tokens in the world by market capitalization, have been lost.

On Wednesday, XRP traded at 50 cents, down 14% from the previous week and 30% from the previous 30 days. According to price-chart data, the tokens reached an annual high of 83 cents on July 20, but as of Wednesday, prices have returned to their pre-SEC ruling levels.

 

[Mia1]

In 2020 SEC sued Ripple on allegations that the firm sold unregistered securities. Historically Ripple maintained distance from XRP and in 2023 judges ruled the sale of XRP tokens on exchanges did not constitute investment contracts,putting a pause on longest and most controversial legal cases in the crypto market.

 

[eliasisaac5]

This case is the biggest in the crypto world nowadays and it is true the coin was fluctuating when they announced the decision a few months back but still the coin is facing its downfall. The whole market is struggling right now and waiting for the miracle to happen.

 

[otisbrown723]

As traders seek to profit from price movements rather than adopting a buy-and-hold strategy, the overall market's bearish sentiment has put pressure on tokens that might have otherwise been supported by favourable fundamentals.

According to data, since Ripple Labs' historic court victory over the U.S. Securities and Exchange Commission (SEC) in July, nearly all gains made by XRP, one of the largest tokens in the world by market capitalization, have been lost.

On Wednesday, XRP traded at 50 cents, down 14% from the previous week and 30% from the previous 30 days. According to price-chart data, the tokens reached an annual high of 83 cents on July 20, but as of Wednesday, prices have returned to their pre-SEC ruling levels.

XRP experienced a downward trend amid weaker market sentiment, becoming the fifth-largest cryptocurrency by market cap after a notable win against the US SEC.

 

[Eva Green]

As traders seek to profit from price movements rather than adopting a buy-and-hold strategy, the overall market's bearish sentiment has put pressure on tokens that might have otherwise been supported by favourable fundamentals.

According to data, since Ripple Labs' historic court victory over the U.S. Securities and Exchange Commission (SEC) in July, nearly all gains made by XRP, one of the largest tokens in the world by market capitalization, have been lost.

On Wednesday, XRP traded at 50 cents, down 14% from the previous week and 30% from the previous 30 days. According to price-chart data, the tokens reached an annual high of 83 cents on July 20, but as of Wednesday, prices have returned to their pre-SEC ruling levels.

Actually the hold and buy strategy, people do use it who have comprehensive knowledge of crypto investments and have the patience to actually hold it for a long time., On the other hand buying at lowest and selling at the highest is what everyone wants but circumstances are unpredictable.

 

[ImamShaheb]

As traders seek to profit from price movements rather than adopting a buy-and-hold strategy, the overall market's bearish sentiment has put pressure on tokens that might have otherwise been supported by favourable fundamentals.

According to data, since Ripple Labs' historic court victory over the U.S. Securities and Exchange Commission (SEC) in July, nearly all gains made by XRP, one of the largest tokens in the world by market capitalization, have been lost.

On Wednesday, XRP traded at 50 cents, down 14% from the previous week and 30% from the previous 30 days. According to price-chart data, the tokens reached an annual high of 83 cents on July 20, but as of Wednesday, prices have returned to their pre-SEC ruling levels.

Hodling is for long term investors who believe in XRP(Ultimate Payment System).

In my opinion,traders have made enough profit from XRP from the recent price surge. SEC's case haven't ended because they've got the permission to appeal,most probably that's why the price have come down to previous level.

 

[ImamShaheb]

Actually the hold and buy strategy, people do use it who have comprehensive knowledge of crypto investments and have the patience to actually hold it for a long time., On the other hand buying at lowest and selling at the highest is what everyone wants but circumstances are unpredictable.

But, a trader should always take count of market trends & sentiment. SEC's appeal should be a major news to look at for XRP traders.

 

[ImamShaheb]

XRP experienced a downward trend amid weaker market sentiment, becoming the fifth-largest cryptocurrency by market cap after a notable win against the US SEC.

They haven't won the case yet!The SEC's lawsuit against Ripple will take place after April 2024.