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The Movements That Come with the XRP and SEC Case

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The price of XRP is now creating macroeconomic consolidation, which is often followed by higher prices. In the last 24 hours, the cryptocurrency has gained around 3.1% and is trading around $0.374303. Market analysts believe that XRP is preparing for a significant break as the SEC case comes to an end.

In addition, the XRP community is expecting a price break above its high since 2018. Despite the negative market sentiment, Ripple has experienced significant global growth due to high speculation and adoption of Ripple’s ODL technology by financial institutions.

On the daily chart, the price hovers below the 50-day moving average for some time. The 50-day and 100-day moving averages, currently hovering around $0.37 and $0.39 respectively, are flat after an uptrend.

Meanwhile, many crypto analysts who actively follow the XRP market believe that progress is imminent. In addition, Ripple has invested heavily in the best legal team to win against the SEC. They also have a seven-year-old XRPL technology that has an amazing ecosystem of NFTs, DeFis, and developers who are always working on the most advanced Dapps.

On Wednesday, the Ripple market boasts a fully diluted valuation of around $37,315,303,265 and a 24-hour trading volume of around $1,577,485,698. However, since Ripple holds nearly half of XRP in a corporate vault, the permanent market capitalization is around $18,890,233,485.

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XRP Market

Despite ongoing legal challenges at the US Securities and Exchange Commission (SEC), the XRP market has managed to maintain its position among the top cryptocurrencies. According to Ripple, an increasing number of institutional investors, including non-financial ones, are beginning to explore the company’s technology for cross-border payments.

Brendan Berry, head of payment products at Ripple, recently said, Over time, more customers than just financial institutions have started to ask for help to solve challenges in paying too much. Significantly, many industry partners are now looking to take advantage of Ripple’s crypto-enabled payments platform. Our goal is to serve all business customers, regardless of industry, who can benefit from fast, affordable and efficient payment processing.

However, economists believe that the XRP market in the United States, which accounts for about 25% of the world’s economic activity, is at risk. Also, Ripple’s CEO has previously said that the company will move to other countries that interact with the environment. The SEC won.

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