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XRP falls back after meteoric rise again yesterday following victory over SEC

07 Apr, 2021

Yesterday the further rise for Ripple following the court ruling in its favour and against the SEC saw the price rocket to as high as 1.0945. That rise was further extended upon today when the leading Alt coin lifted to as high as 1.1170. That was its highest level for almost 3 years. The move higher has run into profit taking as the session develops. That is in part being driven by the corresponding moves lower that are currently playing out in the likes of Bitcoin and Ether. XRPUSD has traded to as low as 0.8712 a short while ago but it is trying to rebound again right now. The other point about this move and news surrounding XRP is the prospect that further documentation might be released from the SEC regarding their investigation into Bitcoin. Tat remains to be seen, but whatever the outcome of that it might explain the downside pressure on the lead coin so far today. As far as Ether is concerned and the move lower there; that might be due to information concerning the significantly increased cost of transactions. XRPUSD is currently trading at 0.9060

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