Despite SEC’s Interlocutory Appeal and 39% Downturn, XRP Enthusiasts Hold out for a Rebound
Recent statistics show a significant decline in the value of XRP since the SEC’s partial verdict against Ripple. Here are the key points:
- XRP’s value has slumped by 39.43% since the court issued the verdict.
- The past week alone saw an 18.5% dip in XRP’s price.
- Over the month, XRP has experienced a 32% slide against the U.S. dollar.
- XRP’s value skyrocketed to $0.819 per coin immediately after the court judgment.
- Since reaching its peak of $0.8437 on July 14, XRP has dropped by 39.43%.
Despite the downturn, XRP remains significant in the crypto market:
- XRP recorded a global trade volume of over $1 billion in the last day, ranking sixth in daily volume.
- Its market capitalization of $27.07 billion makes it the fifth largest on August 22.
While the SEC’s appeal has contributed to the recent decline, XRP enthusiasts remain optimistic:
- Crypto influencer Egrag Crypto believes in XRP’s legal and regulatory foundation and considers it a strong investment.
- Another advocate, Treasure Knight, advises patience and suggests waiting for potential bullish movement toward $0.82.
Hot Take
Despite the recent setbacks, XRP enthusiasts believe in the cryptocurrency’s potential for a rebound. While the SEC’s case and the market downturn have affected XRP’s value, its loyal supporters remain confident in its technological prowess and regulatory clarity. As with any investment, caution and patience are key, but the XRP Army holds firm in their belief that XRP will rise again.
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