XRP Faces Uncertainty as Bearish Signals Increase
On March 19, Ripple CEO Brad Garlinghouse announced that the US Securities and Exchange Commission had cleared the company of allegations regarding a $1.3 billion unregistered securities offering. This news led to a surge in XRP (XRP) price to $2.59, but the gains were short-lived as the cryptocurrency experienced a 22% correction, dropping to $2.02 by March 31. Investors are concerned about a potential further price correction as XRP is currently trading 39% below its all-time high of $3.40 from Jan. 16. Additionally, XRP perpetual futures (inverse swaps) show a strong demand for leveraged bearish bets, indicating a bearish sentiment in the market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Clanker team earns $13 million in revenue from over 200,000 tokens on Base in just five months
US equities slide as trade war escalates, Powell signals no rate cut
Tariff and interest rate concerns overshadowed a positive March jobs report
Sei Investments increases 39% stake in MicroStrategy
Fidelity Spot Solana ETF Gains Traction As SEC Acknowledges Filing
Trending news
MoreCrypto prices
More
