Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
While the U.S. Securities Commission announced the resignation of its general counsel and the arrival of a new one as early as the end of January, the price of XRP showed moderate but encouraging price action.
So, in addition to closing yesterday with gains against the dollar and Bitcoin and continuing to rise today, XRP quotes also held a key support level around $0.35. A break of the level would open the possibility of XRP falling to $0.3, where it last was back in July.
The resignation of SEC general counsel Dan Berkowitz is rumored to be due to his association with Sam Bankman-Fried. The head of the infamous FTX crypto exchange, whose collapse cost investors $10 billion, was recently released on $250 billion bail.
Yuri MolchanHas bottom for XRP been outlined?
A hold at $0.35 showed once again the low below which buyers do not see the token's price and are willing to accumulate a position. This is indirectly confirmed by recent data reported by U.Today, citing Santiment.
According to that report, the number of addresses between 1 million and 10 million XRP reached a record high in December. At the same time, the percentage of the token supply held by these addresses also reached an all-time high of 7.23%.
Yuri Molchan
Dan Burgin
Alex Dovbnya
Vladislav Sopov