Recently, XRP has caused concern among investors as its price dropped to $2.12, losing 3.08% in the last 24 hours. Let's examine what triggered this decline and the prospects for this altcoin.
Ripple and SEC Case
One of the key factors in the decline is news about the Ripple case against the SEC. Ripple CEO Brad Garlinghouse announced on March 19 that the SEC might withdraw its appeal. The final decision is expected on April 3, and uncertainty surrounding this case is causing market tension.
Impact of Economic Factors
On April 2, the US President is expected to announce a 20% tax on imported goods under the Trump Tariff Plan. This could affect inflation and interest rates, which, in turn, pressure the crypto market. XRP's MVRV Ratio has dropped below its 200-day moving average, indicating a potential trend change.
XRP Prospects
If Ripple's case concludes in favor of the company, it could lead to a recovery in XRP's price. The potential approval of a Ripple ETF could also spur growth. Current ETF outlook is positive, but investors should exercise caution in the short term.
The fate of XRP largely depends on the upcoming SEC announcement. A successful resolution could reignite interest in XRP, while prolonged litigation could increase price pressure. Long-term prospects remain optimistic, but attention to regulatory and economic changes is needed.
