March 19 will be remembered as a significant day for the cryptocurrency market as the SEC announced the withdrawal of its appeal against Ripple, leading to major market movements.
SEC Appeal News
On March 19, it was announced that the U.S. Securities and Exchange Commission (SEC) has withdrawn its appeal against Ripple. This decision impacted the industry, paving the way for the growth of one of the largest cryptocurrencies.
Impact on XRP Price
Following the announcement, XRP, the third-largest digital currency, quickly rose by 11%. Since November, XRP's value has surged 500%, reaching a new all-time high amid speculation of it being added to the U.S. Digital Asset Stockpile and launching an ETF.
Growth Prospects and Bollinger Bands
According to the Bollinger Bands indicator, XRP is poised to revisit its highs. The support found at the mid-band on the weekly timeframe provides an opportunity for a run-up to the upper band.
The withdrawal of the SEC appeal against Ripple opens new prospects for the growth of XRP, which may set a new record in the coming weeks.
