The cryptocurrency rose very strongly in the last 24 hours, while reaching the highest price in 10 months.
Ripple rises 17% in the last 7 days and hits a 10-month high. What are the news that could change its value and what will happen: will it go down or will it continue to go up?
It should be noted that the United States Commodity Futures Trading Commission (CFTC) in its court filing against Binance he referred to Bitcoin, Ether, and Litecoin as “commodities.”
Although Ripple was not mentioned, many assumed that the token would be categorized as a commodity. In turn, the SEC in the United States sued Ripple alleging that they had violated federal securities laws.
Specifically, the entity focused on the unregistered security offering of $1.3 billion in XRP tokens as of 2013. The XRP price could increase if Ripple wins the case.
As for technical analysis: “It is facing the upper trend line of its prevailing bullish channel. Therefore, $0.38 in April, 35% below current price levels.”
Source: Ambito
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