This article discusses the lack of updates in the SEC v Ripple case, leaving XRP in the hands of crypto news wires. The US Treasury Department has released proposed regulations on the sale and exchange of digital assets by brokers to crack down on tax cheats. New regulations traditionally have a negative impact on cryptocurrencies. The outcome of the SEC motion for interlocutory appeal will likely prevent a breakout for XRP. XRP sensitivity to news regarding SEC v Binance and SEC v Coinbase is expected. Technical analysis suggests a bearish sentiment for XRP, with resistance at the $0.5750 – $0.5900 level and support at $0.4920 – $0.4780.
AI Sentiment: Negative
