{"id":502873,"date":"2022-09-20T08:00:54","date_gmt":"2022-09-20T08:00:54","guid":{"rendered":"https:\/\/ktsl888.com\/?p=502873"},"modified":"2022-09-20T06:29:58","modified_gmt":"2022-09-20T06:29:58","slug":"xrp-could-lose-30","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/xrp-could-lose-30\/","title":{"rendered":"XRP Braces For Turbulence Amid Looming Fed Hike, Ongoing Ripple-SEC Court War"},"content":{"rendered":"

It seems now that XRP fell short on capitalizing on hopes that Ripple will finally earn a victory on its long-running legal dispute with the U.S. Securities and Exchange Commission as it swayed between profits and losses on September 19.<\/p>\n

It can be recalled that the SEC and Ripple Labs, the company behind XRP, agreed to expedite the lawsuit that aimed to determine whether or not the cryptocurrency could be considered a security.<\/p>\n

Both parties now want a federal judge to make a ruling on whether or not Ripple Labs violated federal securities laws or otherwise dismiss the lawsuit, ending the legal battle.<\/p>\n

With this, New York Southern District Judge Analisa Torres has been asked to make a summary judgment based on the arguments and accompanying documents submitted by SEC and Ripple Labs which were posted on a federal court database on Friday.<\/p>\n

Entrepreneur and crypto enthusiast Jeff Sekinger shared some insights about the matter on Twitter, saying that the case was going in favor of Ripple Labs.<\/p>\n

Related Reading: Ethereum Could Gain 10% Before ETH Resumes Its Reversal<\/a><\/div>\n
\n

Ripple and the SEC both agreed to expedite the lawsuit on Friday to get an answer on whether $XRP<\/a> is a security or not.<\/p>\n

From the updates of the case, it sounds like it\u2019s in the favor of @Ripple<\/a> pic.twitter.com\/SAyl4VLxdM<\/a><\/p>\n

\u2014 Jeff Sekinger (@JeffSekinger) September 19, 2022<\/a><\/p><\/blockquote>\n

The Pressure Of An Imminent Fed Hike<\/strong><\/h2>\n

Basing on its September 19 daily candlestick, experts inferred that XRP\u2019s performance showed a possible growing bias conflict among traders, with the cryptocurrency having sharp bullish and bearish runs. It ended trading at $0.35 that day.<\/p>\n

While the SEC lawsuit remains a big factor for this, it is believed that there is another possible reason for the way XRP performed. It could be the upcoming move of the Federal Reserve to have 75 or 100 basis points increase in its benchmark interest rates which is expected to take effect on September 20.<\/p>\n

These rate hikes have been proven over the years to put tremendous pressure on the crypto market affecting even pack leaders Bitcoin and Ethereum.<\/p>\n

XRP Not Yet Out Of The Woods<\/strong><\/h2>\n

As of this writing, XRP seems to be doing well as data from CoinGecko show that it is trading at $0.37, and is looking at a 10% increase in its price over the last 24 hours.<\/p>\n

But it turns out that this gain is nothing to be excited about, as independent market analyst Cheds shared its observation, stating that XRP price has been fluctuating, confined inside a \u201crectangular range\u201d since June.<\/p>\n

This \u201crange\u201d as described by Cheds has the resistance of $0.38-$0.40 and support that is set at $0.28-$0.30. XRP, after experiencing a price drop on September 19, is headed towards the support area and could be going under $0.25 in the final quarter of 2022, losing 30% of its value.<\/p>\n

Related Reading: Dogecoin Surpasses Polkadot \u2013 Can DOGE Maintain Its Aggressiveness?<\/a><\/div>\n

<\/p>\n

XRP total market cap at $18.5 billion on the daily chart | Source: TradingView.com<\/a>\r\n\r\nFeatured image from Kriptokoin.com, Chart from TradingView.com\r\n\r\n(The analysis represents the author's personal views and should not be construed as investment advice).<\/pre>\n","protected":false},"excerpt":{"rendered":"
It seems now that XRP fell short on capitalizing on hopes that Ripple will finally earn a victory on its long-running legal dispute with the U.S. Securities and Exchange Commission as it swayed between profits and losses on September 19. It can be recalled that the SEC and Ripple Labs, the company behind XRP, agreed to expedite the lawsuit that aimed to determine whether or not the cryptocurrency could be considered a security. Both parties now want a federal judge to make a ruling on whether or not Ripple Labs violated federal securities laws or otherwise dismiss the lawsuit, ending the legal battle. With this, New York Southern District Judge Analisa Torres has been asked to make a summary judgment based on the arguments and accompanying documents submitted by SEC and Ripple Labs which were posted on a federal court database on Friday. Entrepreneur and crypto enthusiast Jeff Sekinger shared some insights about the matter on Twitter, saying that the case was going in favor of Ripple Labs. Related Reading: Ethereum Could Gain 10% Before ETH Resumes Its Reversal Ripple and the SEC both agreed to expedite the lawsuit on Friday to get an answer on whether $XRP is a security or not. From the updates of the case, it sounds like it\u2019s in the favor of @Ripple pic.twitter.com\/SAyl4VLxdM \u2014 Jeff Sekinger (@JeffSekinger) September 19, 2022 The Pressure Of An Imminent Fed Hike Basing on its September 19 daily candlestick, experts inferred that XRP\u2019s performance showed a possible growing bias conflict among traders, with the cryptocurrency having sharp bullish and bearish runs. It ended trading at $0.35 that day. While the SEC lawsuit remains a big factor for this, it is believed that there is another possible reason for the way XRP performed. It could be the upcoming move of the Federal Reserve to have 75 or 100 basis points increase in its benchmark interest rates which is expected to take effect on September 20. These rate hikes have been proven over the years to put tremendous pressure on the crypto market affecting even pack leaders Bitcoin and Ethereum. XRP Not Yet Out Of The Woods As of this writing, XRP seems to be doing well as data from CoinGecko show that it is trading at $0.37, and is looking at a 10% increase in its price over the last 24 hours. But it turns out that this gain is nothing to be excited about, as independent market analyst Cheds shared its observation, stating that XRP price has been fluctuating, confined inside a \u201crectangular range\u201d since June. This \u201crange\u201d as described by Cheds has the resistance of $0.38-$0.40 and support that is set at $0.28-$0.30. XRP, after experiencing a price drop on September 19, is headed towards the support area and could be going under $0.25 in the final quarter of 2022, losing 30% of its value. Related Reading: Dogecoin Surpasses Polkadot \u2013 Can DOGE Maintain Its Aggressiveness? XRP total market cap at $18.5 billion on the daily chart | Source: TradingView.com Featured image from Kriptokoin.com, Chart from TradingView.com (The analysis represents the author’s personal views and should not be construed as investment advice).<\/p>\n","protected":false},"author":557,"featured_media":499434,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,6664,2718,3685,3799,4531],"class_list":["post-502873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-crypto","tag-lawsuit","tag-ripple-labs","tag-sec","tag-xrp"],"acf":[],"yoast_head":"\nXRP Braces For Turbulence Amid Looming Fed Hike, Ongoing Ripple-SEC Court War<\/title>\n<meta name=\"description\" content=\"It seems now that XRP fell short on capitalizing on hopes 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Braces For Turbulence Amid Looming Fed Hike, Ongoing Ripple-SEC Court War","url":"http:\/\/ktsl888.com\/news\/xrp-could-lose-30\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/xrp-could-lose-30\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/08\/XRP-2.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/08\/XRP-2.png?fit=768%2C432"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","crypto","lawsuit","ripple labs","sec","xrp"],"dateCreated":"2022-09-20T08:00:54Z","datePublished":"2022-09-20T08:00:54Z","dateModified":"2022-09-20T08:00:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Braces For Turbulence Amid Looming Fed Hike, Ongoing Ripple-SEC Court War\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/xrp-could-lose-30\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/xrp-could-lose-30\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/XRP-2.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/XRP-2.png?fit=768%2C432\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"crypto\",\"lawsuit\",\"ripple labs\",\"sec\",\"xrp\"],\"dateCreated\":\"2022-09-20T08:00:54Z\",\"datePublished\":\"2022-09-20T08:00:54Z\",\"dateModified\":\"2022-09-20T08:00:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/08\/XRP-2.png?fit=768%2C432","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/502873"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=502873"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/502873\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/499434"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=502873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=502873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=502873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}