Ripple (XRP) faces resistance below $0.50 amidst speculation of a settlement with the SEC. Yet, Stuart Alderoty, Ripple’s Chief Legal Officer, disclosed the absence of the expected pretrial conference, dimming hopes for a quick resolution.
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This absence signifies a delay in potential negotiations, leaving the lawsuit’s conclusion uncertain.
Ripple’s Response Deadline Approaches
Ripple braces for its impending response to the SEC’s penalty request, due by April 22. Alderoty previously disclosed the SEC’s pursuit of $2 billion in fines and penalties, emphasizing Ripple’s anticipation of a fair approach from the court.
The 60-day XRPLedger hackathon ended with 55 projects launched on the Ledger’s EVM Sidechain, involving 250 developers and $20,000 in prize money. Despite this vibrant ecosystem activity, the lawsuit’s developments continue to weigh on XRP’s price.
XRP remains ensnared below the critical $0.50 threshold for the third consecutive day, struggling to breach this significant resistance level. Although attempts were made to surpass $0.50, the altcoin’s failure to achieve a daily candlestick close above this mark hampers its recovery.
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Technical Analysis Insights
Similarly, the Moving Average Convergence/Divergence (MACD) histogram reflects persisting negative momentum, reinforcing XRP’s struggle to surpass $0.50.
XRP/USDT 1-day chart
The 60-day XRPLedger hackathon ended, resulting in 55 projects launched on the Ledger’s EVM Sidechain, involving 250 developers and $20,000 in prize money. Until then, XRP’s price may continue to hover below $0.50, awaiting a decisive breakthrough.
Ripple’s legal battle and the pretrial conference outcome, combined with technical indicators, strongly impact XRP’s price, keeping investors and traders anxious.
