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The asset plunged to $0.30 today in a shocking price drop before breaking above $0.33.
XRP is now targeting the area above $0.35 after today’s flash crash. The asset looks to end a two-session losing streak.
It is up 1.6% over the last 24 hours. It plummeted to $0.3000 at 1:00 AM (UTC), dropping more than 10% before quickly rebounding. The last time XRP visited the $0.3000 level was in June last year.
Experienced Crypto Analyst highlight A shocking move that claims it could seize liquidity. Some individuals believe that his recently unlocked XRP token from an escrow account was responsible for the drop. With his two trades yesterday, Ripple unlocked 900 million of his XRP tokens from an escrow account.
At its current value of $0.3428 at the time of writing, XRP has crossed the pivot point at $0.3378 and conquered the first significant resistance at $0.3404. The rise in the asset occurred within an hour of him following a surge in trading volume. XRP is currently holding a delicate position above the second key resistance at $0.3424 and could cross the third significant resistance at $0.3469 if the momentum holds. If XRP can overcome the third resistance point, the market will likely see $0.35.
XRP’s volatile price action comes amid the uncertainty surrounding the SEC v. Ripple litigation. XRP investors are eagerly awaiting a court ruling in favor of the latter. While such a court ruling is the wish of the cryptocurrency community, most supporters believe the lawsuit will end in a settlement.
Nonetheless, attorney John Deaton does not share this belief as recently. reportHe believes the legal battle will end with a court ruling based on several indications, including, but not limited to, Hinman’s documents lacking relevance to the court’s summary judgment ruling.
Despite widespread rhetoric about the incident, investors remain wary of investment decisions regarding the property.next court In this case it is January 4th.
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