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In the wake of the SEC v. case, Ripple’s digital currency XRP managed to maintain its position above the 50-day and 200-day exponential moving averages (EMA) today. Despite the lack of a common briefing program, which could potentially impact market sentiment, XRP remained stable. Bulls are eyeing a potential upside towards Monday’s high $0.7328, provided it can break above the $0.7047 resistance level.
On Wednesday, XRP saw a marginal rise of 0.25% following Tuesday’s significant 4.10% decline, closing at $0.6873. This happened amid ongoing legal proceedings between the SEC and Ripple. Both sides were expected to present a proposal pursuant to Judge Torres’ order, but indications of no progress point to a disputed briefing schedule.
Earlier in the week, Metaco – a company previously purchased by Ripple – announced HSBC’s (LON:) digital asset service for institutional clients investing in tokenized securities. This development highlights Ripple’s continued influence in the digital asset space despite ongoing legal challenges.
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