Bitcoin News
By Dan Saada
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Commodity Status Brings New Questions. The SEC's move caught many off guard, but not in a good way.
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Technical Picture Gets Worse. Chart watchers aren't optimistic about XRP's near-term prospects.
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What Happens Next. Ripple CEO Brad Garlinghouse tried to sound optimistic Friday, saying the company remains…
4 / 15
XRP hit $1.39993 Friday. The crypto can't seem to catch a break despite getting what many thought was good news from regulators just days ago.
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The Securities and Exchange Commission reclassified XRP as a commodity earlier this week, moving it away from its previous security designation that had haunted the token for…
6 / 15
The SEC's move caught many off guard, but not in a good way. Ripple Labs welcomed the decision through spokesperson Amy Reynolds, who said the reclassification "could enhance…
7 / 15
What's confusing traders is that nobody really knows what commodity status means for XRP day-to-day.
8 / 15
Bitcoin dropped to $45,000 and Ethereum fell to $3,200 on Friday, dragging the whole crypto market down with them. XRP's slide below $1.
9 / 15
Chart watchers aren't optimistic about XRP's near-term prospects. The token has been struggling to break past $1.45 for weeks, and now it's testing support at $1.40.
10 / 15
Technical indicators are flashing warning signs. Trading momentum has been sluggish, and the global economic environment isn't helping matters.
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Lee thinks any positive regulatory updates could serve as a catalyst for recovery. But he's not holding his breath for that to happen anytime soon.
12 / 15
The volume numbers tell an interesting story though. Binance reported a 15% jump in XRP trading on Friday compared to Thursday, suggesting people are actively repositioning…
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Financial analyst Mark Stevenson from Digital Asset Research thinks the high volume but flat price action shows the market is "waiting for more definitive signs of regulatory…
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Ripple CEO Brad Garlinghouse tried to sound optimistic Friday, saying the company remains "committed to working with regulators" and that collaboration is "essential for…
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The problem is that commodity status doesn't automatically solve XRP's adoption challenges. Banks and payment providers that were scared off by the security classification might…
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