Ripple

About 48 hours, Ripple plunged to $0.21 low as bulls failed to breach the $0.60 resistance. With this breakdown, Ripple is in the bearish trend zone.

The scuffle between Ripple Labs Inc. and the USA Securities and Exchange Commission (US SEC) is escalating. Cryptocurrency exchanges have begun delisting XRP or paused trading XRP following the US SEC’s court case against Ripple Inc. However, despite this turbulence, Ripple has managed to regain its price level after over 30% drop.

Despite the global economic recession caused by the Covid-19 pandemic, the cryptocurrency markets have soared significantly in value in 2020. The New Year is expected to be even more favourable for the growth of the industry, opening vast investment opportunities.

The United States Securities and Exchange Commission (US SEC), an autonomous agency that protects cryptocurrency investors and the national banking and financial system, is going to file a court case against Ripple Inc.

Ripple slumps down after failing to break the $0.60 resistance. The altcoin had earlier rebounded on December 16 to retest the previous highs but could not.

After the recent rebound on December 16, the coin rallied from the low of $0.46 to the $0.65 high. The altcoin pulled back to resume a sideways move between the levels of $0.54 and $0.60.

Following the breakdown and subsequent correction, Ripple (XRP) has been on a downward move. The price was making a series of lower highs and lower lows.

The crypto industry was overlooked by many people for quite a long time until it proved to be a much more lucrative venture than most investments in the other sectors. As such, many people join crypto trading because of the “Fear of Missing Out” (FOMO) effect which only leads to big losses and disappointments.

Ripple is the third most valuable crypto which started the year with $0.19. In the first quarter of 2020, the crypto rose to $0.34 high but plunged to $0.11 in March.