XRP Faces Sub-$0.50 on SEC v Ripple Silence and SEC Activity

XRP increased on Sunday by 0.21%. XRP concluded the week up 3.03% at $0.5212, partially correcting a loss of 0.66% from the previous Saturday. For the third session in a row, XRP avoided falling below $0.51 while ending the day near the $0.52 level.

XRP has a rocky start to the day, dropping to a low of $0.51604 in the early hours. XRP gained strength at the First Major Support Level (S1) around $0.5161 and increased to a high of $0.52455 in the early evening.

However, XRP slipped slightly to conclude the session at $0.52120 after falling short of the First Major Resistance Level (R1) at $0.5252.

Investors Back into Wait and See Mode Puts Pressure on XRP

Investors were not interested in any new developments in the current SEC v. Ripple dispute. XRP is now in the hands of the larger crypto market due to the lack of updates.

The weekend saw rather range-bound trading for XRP due to increased regulatory action and US legislator scrutiny. However, as investors anticipate the Capitol Hill hearing on digital assets, where SEC Chair Gary Gensler will testify, market conditions may alter on Tuesday.

Investors did show interest in the Ripple Liquidity Hub conversation. To bridge the gap between cryptocurrencies and cash, Ripple introduced the Ripple Liquidity Hub on Thursday. The product launch, however, lacked XRP. Ripple attributed the oversight on regulator uncertainty.

There has been such a wide range of responses to the announcement that Ripple's Liquidity Hub would not support XRP that I feel a Twitter Spaces is necessary, according to Amicus Curiae lawyer John Deaton. All viewpoints are welcome, however Moon Lamboio and I will be the hosts. Would ideally have someone join that knows even more about LH.

The decision to exclude XRP reflected the continued consequences of US regulatory activities on the digital asset industry and was pricing negative.