In a recent development, the U.S. Securities and Exchange Commission’s (SEC) appeal against Ripple accusing the company of unlawful sales of securities has been denied. This decision has positively impacted the price of XRP, with an 8% increase. XRP is currently trading at $0.5312 and has broken through the local resistance level at $0.52. However, it is important to note that further confirmation is needed to confirm a breakthrough.
On the other hand, Shiba Inu (SHIB) has experienced a significant loss as it fell below its key support level of $0.00000733. This has raised concerns about its future performance, especially in a sideways market that can potentially lead to a downtrend.
Cardano (ADA) has faced difficulties as it failed to break through the 50 Exponential Moving Average (EMA) resistance level. It is currently trading at approximately $0.2562. The asset’s failure to maintain key support levels, particularly the 21 EMA, could result in a further price decline.
Overall, the recent decision in favor of Ripple has positively impacted XRP, but caution is advised as market conditions can change rapidly. Shiba Inu and Cardano face challenges in maintaining support levels and reversing their current trends in a sideways market.
Source: UTODAY
