The status of XRP (Ripple) as a cryptocurrency or security token is under scrutiny as a recent ruling allows the Securities and Exchange Commission (SEC) to continue its legal battle against Terraform Labs and its founder. The market has responded with caution, and XRP’s price has declined. Previous attempts to push XRP’s price to $1 have been unsuccessful, and it is currently oscillating between the $0.68 and $0.85 range. Traders are closely monitoring the $0.68 support level and the $0.7 resistance level for potential trading opportunities. The outcome of the SEC’s case could have implications for XRP and the broader cryptocurrency market.
AI Sentiment: Negative