Ripple (XRP) is embroiled in a legal battle with the US Securities and Exchange Commission for nearly four years.
XRP ranges close to $0.50 on Monday, amidst uncertainty of an update in the SEC vs. Ripple lawsuit. Ripple filing supporting its motion to seal relevant documents awaits a response from the SEC. Ripple CEO Brad Garlinghouse commentedon meme coins at Consensus. Ripple is embroiled in a legal battle with the US Securities and Exchange Commission for nearly four years. The SEC vs. Ripple lawsuit drags on as holders await the SEC’s response to the payment firm’s filing from May 29.
XRP price touched the upper trendline on several occasions between May 25 and June 6 and the lower trendline at $0.4917 has acted as support between March 25 and June 10. The bearish signs extend to the momentum indicators on the 1-day chart. The red histogram bars below the neutral line on the Moving Average Convergence Divergence indicator support the bearish thesis. Relative Strength Index is 39.53, dipping towards the oversold level at 30.
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