The post The price of Ripple (XRP) is down 7% after the meeting with the SEC appeared on BitcoinEthereumNews.com.

Ripple (XRP) experienced a 7% price decrease after the United States Securities and Exchange Commission (SEC) canceled a crucial meeting. This shows that volatility continues to affect the cryptocurrency market.  Let’s see all the details below.  The cancellation of the SEC meeting and the drop in the price of Ripple (XRP) As anticipated, despite a recent surge, Ripple (XRP) has seen its price drop by almost 7% following the cancellation of a key meeting of the United States Securities and Exchange Commission (SEC).  According to the data from CoinMarketCap, the token had recorded an increase of over 28% in the last seven days, but on Thursday it fell below the threshold of $0.57. The trend reversal seems to be linked to the ongoing legal case with the SEC. The two parties were supposed to meet this week, but the agency’s stalemate has delayed the plans.  This has fueled concerns among traders regarding the possibility that the settlement day scheduled for July 31 may be at risk. At the beginning of the week, XRP had shown an impressive rally, increasing by over 50% since the start of the month. After being stuck around the $0.50 level for most of the year, it seemed that a breakout was finally imminent. However, the hitch in concluding the ongoing legal case with the SEC seems to have dampened these expectations. The previous day, the asset had recorded a 13% increase, approaching a sustained position above $0.62, which now appears in doubt. In any case, there are those who question the importance of the canceled meeting.  The former SEC lawyer, Marc Fagel, stated that the two parties have had “about 150 of these almost weekly meetings since the beginning of the case.” Suggesting therefore that the cancellation might not be as significant as feared. The…

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Filed under: News - @ July 19, 2024 1:20 pm