The post What To Do As Ripple Hits Bottom? appeared on BitcoinEthereumNews.com.

Amid the recent market recovery, XRP price saw a strong rebound from $0.50 to $0.58, marking a 16% surge. This bullish uptick is fueled by the launch of Grayscale’s Trust fund and the return of XRP on the Robinhood exchange. With sustained bullish momentum, the Ripple coin is poised to break out of the symmetrical triangle pattern that has been in place since September 2021 XRP Price Hints at Bottom Reversal as Legal Clouds Begin to Clear XRP is regaining investor attention following several developments initiated after the resolution of its long-running legal battle with the U.S. Securities and Exchange Commission (SEC). A federal judge ordered blockchain solutions provider Ripple Labs to pay a $125 million civil penalty, a significant reduction from the initial demand of $2 billion by the US SEC. Moreover, the asset management company Grayscale has launched a new crypto investment trust fund for XRP, which allows accredited investors to gain direct exposure to XRP. The Grayscale’s announcement has also sparked speculation of a potential XRP ETF shortly. Moreover, an X (formerly known as Twitter) User, Luke Thomas, has recently highlighted that Grayscale has removed XRP from its fund following the SEC’s lawsuit against Ripple. With only three weeks remaining before the SEC’s possible appeal to the court’s decision in the Ripple case, the Grayscale reintroduction could hint at a limited risk of an adverse SEC appeal. 1/ If history is an indicator, @Grayscale got rid of #XRP from its fund when the SEC filed the lawsuit against @Ripple. The fact that they have now included #XRP back to its fund, with ~3 weeks left for the SEC to appeal the verdict clearly indicates the sentiment that… https://t.co/w3fQTyCqPF — Luke Thomas (@DEarthshaker) September 12, 2024 Ripple Coin Set To Escape Sideways Trend With Triangle Breakout Over the…

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Filed under: News - @ September 15, 2024 8:18 pm