Ripple (XRP) piled losses alongside top altcoins and Bitcoin early on Friday. The German governmentÂ’s Bitcoin transfers and Mt.Gox payback to creditors have created uncertainty among traders and increased the pressure on Bitcoin and altcoins like XRP.Â
The latest developments in the Securities and Exchange Commission (SEC) vs. Ripple lawsuit are skewed in favor of the payment remittance firm, with Judge Amy Berman Jackson treating Judge TorresÂ’ 2023 ruling as precedent in the SEC vs. Binance suit.Â
XRP NPL and Supply on exchangesÂ
Ripple is in a downward trend since March 11. The altcoin dipped to its lowest level in fifteen months, at $0.38, early on Friday. The altcoin erased gains from earlier in 2024 amidst a marketwide correction in cryptocurrencies.Â
Ripple could find support at the March 21, 2023, low of $0.37 if it extends losses further. XRP is down 7% on Friday.Â
XRP/USDT daily chartÂ
On the contrary, a daily candlestick close above $0.4611 could invalidate the bearish thesis and push XRP higher toward the next psychologically important resistance at $0.50.
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