Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
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The price of XRP dipped by 2.62% to $0.56 on Sunday as the cryptocurrency market faced renewed selling pressure. This decline marks a notable reversal within a multi-year triangle pattern, suggesting the possibility of a significant correction ahead.
Speculation is growing that the U.S. Securities and Exchange Commission (SEC) may decide to appeal, which could intensify the bearish sentiment around XRP. The key focus now is whether XRP can maintain its crucial $0.5 support level amidst these developments.
The uncertainty surrounding the SEC's potential appeal adds an extra layer of complexity to the price dynamics, and many investors and analysts are closely watching how the situation unfolds.
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