XRP Price Quick Rebound Loses Steam Above $0.5
Down 2.3% on Friday, XRP is trading at $0.515 with $789 million in trading volume coming in. Providing immediate support to the cross-border money remittance token is a multi-month ascending trendline, dating back to the beginning of the year. advertisement Bulls have every reason to hold this support intact, considering XRP is trading below all the major moving averages, including the 50-day Exponential Moving Average (EMA) (red), the 100-day EMA (blue), and most importantly the 200-day EMA (purple) at $0.5253. XRP On The Edge of Another Downfall XRP is back to trading levels last seen before the July ruling in the Ripple vs. SEC case. After the court ruled that secondary sales of XRP tokens on exchanges like Binance imply that it is not a security contrary to sales made directly to institutions. While this rule was a win for XRP, the remarkable rally that followed the ruling quickly faded before reaching $1. XRP achieved a new 2023 milestone at $...