🚨 XRP Alert: BTC-Spot ETF and SEC v Ripple Impact Sends XRP to $0.5044! 📉🔍

📰 Key Insights:

XRP experiences a 6.68% slide, closing at $0.5828 on Wednesday.

Crypto market faces sell-off rumors fueled by SEC's potential rejection of BTC-spot ETF applications.

Investors closely monitor US regulatory scrutiny, SEC v crypto case updates, and BTC-spot ETF news.

📉 Wednesday Overview:

On Wednesday, XRP faced a 6.68% decline, settling at $0.5828. The absence of SEC v Ripple case developments left XRP vulnerable to broader market dynamics.

💣 BTC-Spot ETF Rumors Impact:

Rumors of SEC rejecting BTC-spot ETF applications triggered a crypto sell-off. XRP hit a session low of $0.5044 before a partial recovery. The community reacts to the market turmoil, emphasizing the volatility in crypto assets.

🗣️ Amicus Curiae John E. Deaton's Take:

"I’m not a financial expert, but usually an asset doesn’t go straight up... BTC goes to $45K, and all you see are predictions of $100K, $200k, or even $1M before January 2025. BTC drops 6-7% the next day, and you see calls that it’s headed back under $20K."

🛑 SEC vs. Ripple Case Progress:

XRP's sensitivity to anti-crypto rhetoric is evident as SEC and Ripple move through remedies-related discovery. After remedy-related briefs, Judge Analisa Torres will decide on disgorgement for XRP sales to US institutional investors. Expectations rise for an SEC appeal, potentially leaving XRP uncertain until 2025.

💹 XRP Price Action:

Weekly Chart signals bullish momentum.

Daily Chart shows XRP below the 50-day EMA but above the 200-day EMA, presenting mixed signals.A break above $0.5835 resistance could pave the way for a move towards the 50-day EMA and $0.6354 resistance.

📆 Thursday Focus:

The crypto community awaits updates on BTC-spot ETF, SEC vs. crypto case, and regulatory scrutiny, influencing XRP's trajectory.

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