{"id":583059,"date":"2024-10-03T11:23:45","date_gmt":"2024-10-03T11:23:45","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=583059"},"modified":"2024-10-03T11:23:45","modified_gmt":"2024-10-03T11:23:45","slug":"xrp-price-plunges-11-as-sec-appeals-against-ripple-ruling-while-traders-pivot-to-this-ico-with-6242-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/xrp-price-plunges-11-as-sec-appeals-against-ripple-ruling-while-traders-pivot-to-this-ico-with-6242-apy","title":{"rendered":"XRP Price Plunges 11% As SEC Appeals Against Ripple Ruling, While Traders Pivot To This ICO With 6,242% APY"},"content":{"rendered":"

The XRP price plunged 11% in the last 24 hours <\/span>to trade at $0.5314<\/span><\/a> as of 03:18 a.m. EST on trading volume that rose 8% to $3 billion.<\/span><\/p>\n

This comes after the US Securities and Exchange Commission (SEC) filed a notice of appeal in the Ripple lawsuit on Oct 2, seeking to overturn a ruling by Judge Analisa Torres.<\/span><\/p>\n

She had ruled that XRP is not a security when sold to the public, giving Ripple and the crypto industry what appeared to be a landmark partial victory against the regulator.<\/p>\n

XRP Price On A Sustained Bearish Momentum<\/h2>\n

The XRP price came out of a consolidation zone in September, which was moving in a sideways pattern within the $0.58 range, according to data from <\/span>GeckoTerminal<\/span><\/a>. The bulls then won the struggle, pushing the price of XRP to the $0.66 resistance before returning to the $0.58 support.<\/span><\/p>\n

XRP price then took advantage of the rounding top pattern, as the bears exerted more pressure even after the appeal, which drove the price of XRP towards a sustained bearish trend.<\/span><\/p>\n

The pressure then allowed the price of XRP to fall below both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the rapid bearish movement.<\/span><\/p>\n

Moreover, the Relative Strength Index (RSI) is also falling below the 30-oversold region, which shows that the asset is currently under intense selling pressure and oversold.<\/span><\/p>\n

If the current bearish stance continues, the price of XRP may still fall to the next support at $0.50.<\/span><\/p>\n

\"XRP
XRPUSD Chart Analysis Source: GeckoTerminal.com<\/figcaption><\/figure>\n

Meanwhile, the RSI shows that the asset is currently oversold and undervalued, which may be a buying signal for optimistic investors. If investors enter the market at this level, the price of XRP could surge towards a bullish trend reversal, with the possible target at the $0.57 level (200-day SMA).<\/span><\/p>\n

As the XRP price bulls look for more favorable buying signals, investors looking for new opportunities might want to consider a new meme coin ICO called <\/span>Flockerz (FLOCK)<\/span><\/a>, which offers a stratospheric Annual Percentage Yield (APY) of 6,242%..<\/span><\/p>\n

Flockerz Presale Garners Over $370K In Presale<\/h2>\n

The Vote-to-Earn platform from Flockerz is rewriting the rules of decentralization. Compared with many other crypto projects, where a small group makes decisions of people, FLOCKERZ allows its community more control.<\/span><\/p>\n

Indeed, not only does the platform allows its community members to impact the project’s future, but they also get compensated for it. The Vote-to-Earn platform represents a major shift in how meme coins work.<\/span><\/p>\n

Flocktopia is the decentralized governance framework of FLOCKERZ. It is also a key component of the project. Each token holder in this DAO can influence project decisions.<\/span><\/p>\n

To participate in the voting process, users must <\/span>buy $FLOCK tokens<\/span><\/a>. The greater the number of tokens you own, the more influence you have in voting. When a new suggestion is presented, members of The Flock vote.<\/span><\/p>\n

\n

The flock is flying high! We’ve officially crossed $300K! pic.twitter.com\/MsLc5PeoyX<\/a><\/p>\n

— Flockerz (@FlockerzToken) September 28, 2024<\/a><\/p><\/blockquote>\n