微信截图_20230320130935.png

Saturday saw a 1.24% decrease in XRP. XRP fell by 0.02% on Friday and finished the day at $0.36655. Significantly, XRP avoided falling below $0.36 while extending its loss run to three days.

XRP experienced a positive start to the day, climbing to an early high of $0.37718 before going backward. Ahead of the First Major Resistance Level (R1) at $0.3781, XRP declined to a low of $0.36092 in the early afternoon. XRP went back to the $0.367 mark, but after finding support at the First Major Support Level (S1) at $0.3608, it eased back.

Silence in SEC v. Ripple Puts Silicon Valley Bank and USD Coin in the Spotlight

On Saturday, there was no activity. Investors weren't diverted from the new US financial problem and the USD Coin (USDC) de-peg by SEC v. Ripple case developments.

Investor expectations of a Ripple win in the continuing legal dispute between Ripple and the SEC had led to an optimistic first half of the week for XRP. Recent court decisions favored the Defendants, and the Hinman Documents caused the SEC additional trouble.

Due to problems in the US financial sector and possible spillover effects to the cryptocurrency market, investors probably decided to secure in profits from the previous week while they awaited decisions regarding the Hinman Documents and Summary Judgment Reply Briefs.

Investor mood is still being put to the test by updates on SVB Financial Group (SIVB), and another crypto-negative development is the USD de-peg.

Price support was not offered by reports that Reaper Financial had converted its USD Coin assets into XRP. To guarantee security, it was important to choose XRP over other digital currencies when converting, though.

Trade

Market

Platform

Community

Tools

Education

Company

Others

Boost Your Trading with Exciting Bonus Rewards!