XRP, supported by Ripple Labs, is experiencing difficulties in gaining bullish traction during the ongoing rebound in the crypto market, primarily led by Bitcoin. Despite having a large market cap and substantial traded volume, XRP's growth is suppressed by SEC-induced uncertainties. Currently, XRP is retesting its support range between 52 and 54 cents.
This situation is compounded by an ongoing legal battle with the SEC, creating headwinds for XRP's price progression. Investors remain cautious, observing how Ripple Labs navigates these challenges to facilitate a potential breakout. Market dynamics remain closely watched, reflecting the uneasy sentiment amidst regulatory hurdles.
