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XRP Price Acts Encouraging as SEC Announces Change in Major Post

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Fri, 23/12/2022 - 12:59
XRP Price Acts Encouraging as SEC Announces Change in Major Post
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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.

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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.

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Has 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.

Source: TradingView

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%.

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