XRP price risks 30% decline despite Ripple's legal win prospects

XRP price risks 30% decline despite Ripple’s legal win prospects


XRP pricewas wobbling between profits and losses on Sep. 19 despite hopes that Ripple would eventually win its long-running legal battle against the U.S. Securities and Exchange Commission (SEC).

Ripple and the SEC both agreed to expedite the lawsuit on Friday to get an answer on whether $XRP is a security or not.

From the updates of the case, it sounds like it’s in the favor of @Ripple pic.twitter.com/SAyl4VLxdM

— Jeff Sekinger (@JeffSekinger) September 19, 2022Fed spoils SEC vs. Ripple euphoria

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The XRP/USD pair dropped by over 1% to $0.35 while forming extremely sharp bullish and bearish wicks on its Sep. 19 daily candlestick. In other words, its intraday performance hinted at a growing bias conflict among traders.

XRP/USD daily price chart. Source: TradingView

The indecisiveness could be due to XRP’s exposure

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