mayalily
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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.
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.