XRP Price Consolidates Around $0.7 as Ripple’s Victory Over SEC Stalls Growth
The XRP price is currently consolidating around the $0.7 mark after experiencing an 80% surge following Ripple’s partial victory over the SEC. While the token’s price is up 50% compared to last month, there has been a slowdown in price action.
- Ripple’s victory over SEC resulted in an 80% surge in XRP’s price.
- XRP is currently trading at $0.70, with a mild drop of 0.34%.
- The token’s trading volume has experienced a massive surge of over 86%.
- An interesting debate has erupted among top Ripple officials about XRP’s tax implications.
- The XRP price is showing signs of a negative breakout, but TradingView’s technicals still show a “buy” sentiment.
Controversial Debate Erupts Over XRP’s Tax Implications for Cross-Currency Payments
XRP has been adopted by many regions for cross-country payment solutions, and Ripple recently announced a partnership with the Republic of Palau to pilot a USD-backed stablecoin on the XRP Ledger. This has sparked a debate among Ripple officials about the tax implications of cross-currency payments.
- Ripple’s partnership with the Republic of Palau involves government employees using the Palau Stablecoin to pay select local merchants.
- An accounting and financial consultant asserts that XRP settlements within a single ledger have tax implications for customers.
- The XRP Ledger isn’t a reporting entity, and the party initiating the transaction is responsible for tax-related matters.
XRP Price Analysis and DeeLance’s Presale Conclusion
The XRP price has been consolidating around $0.74 since July 26th, with no clear uptrend in sight. The token’s continued consolidation may push its value down in the next few days. However, TradingView’s technicals still show a “buy” sentiment for XRP. Meanwhile, DeeLance is nearing the end of its presale, with only $100k left to reach its target.
- If the XRP price achieves longer greens with higher lows, the descending pattern may be disrupted.
- DeeLance is a blockchain ecosystem for freelancers, offering a way for them to tokenize their projects and get paid fairly.
- The project features an NFT marketplace, a job hiring platform, and a metaverse for freelancers and clients to interact in a virtual environment.
- The presale for DLANCE, the ecosystem’s token, has gained momentum and is set to conclude soon.
Hot Take: XRP Price Faces Uncertainty, DeeLance Gains Traction
The XRP price is currently consolidating with no clear indication of an uptrend. The ongoing debate about XRP’s tax implications adds to the uncertainty surrounding the token. On the other hand, DeeLance’s presale has gained momentum, showcasing the real-world utility of its blockchain ecosystem for freelancers.
By
By
By
By