The price has recently broken the key support level of $0.50.
If price manages to break above the $0.51 mark, then it will likely rally towards the $0.55.
It’s been less than two months since the landmark SEC vs. Ripple judgment. After significantly rising post the judgment, XRP’s price has fallen back to its pre-breakout level as the token is now facing a 53% retracement after its spectacular breakthrough in July.
Undoubtedly, the euphoria among XRP traders and investors has been muted by the SEC’s intention to appeal Judge Analisa’s order. Despite persistent pushback from the crypto sector, Gary Gensler, chairman of the SEC, maintains that the agency’s securities laws apply to the vast majority of cryptocurrencies.
To restate the SEC’s firm view that cryptocurrency firms must register with the regulatory body, Gensler provided written testimony to the Senate Banking Committee on September 12. The crypto community is watching the case intently because of the potential effe
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