{"id":508524,"date":"2022-11-15T11:06:51","date_gmt":"2022-11-15T11:06:51","guid":{"rendered":"https:\/\/uniquehot.com\/?post_type=press_release&p=508524"},"modified":"2022-11-15T11:06:51","modified_gmt":"2022-11-15T11:06:51","slug":"when-will-ripple-reach-the-bottom-xrp-price-drops-to-0-35-these-tokens-might-be-worth-more-in-2023","status":"publish","type":"press_release","link":"https:\/\/uniquehot.com\/press-releases\/when-will-ripple-reach-the-bottom-xrp-price-drops-to-0-35-these-tokens-might-be-worth-more-in-2023\/","title":{"rendered":"When will Ripple reach the bottom? XRP price drops to $0.35, these tokens might be worth more in 2023"},"content":{"rendered":"
The crypto market crash triggered by fears around the future of FTX has tossed most cryptocurrencies into a sea of red. XRP is no exception. The coin’s dramatic collapse in the last few days has investors wondering if a recovery is in sight.<\/p>\n
The ongoing market meltdown has taken the global crypto market cap to $826.32B. Bitcoin touched $15,711 on Thursday, and Ethereum is at risk of falling below the $1000 mark.<\/p>\n
While October was kind to XRP, bouncing it off to $0.54 at one point, the coin is down to $0.3583 at the time of writing. The 21.63% plunge on the weekly charts is a relief when compared to SOL\u2019s 56.01% and DOGE\u2019s 38.17% nosedives.<\/p>\n
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XRP 7D-chart, 10 Nov 2022, source: CoinMarketCap <\/em><\/p>\n However, waning confidence in XRP\u2019s victory against the SEC exacerbates the wound. The current hit may only be the beginning of a steep downturn for the coin. A recent ruling in favor of the SEC against blockchain-based content sharing and publishing platform LBRY has alarmed XRP investors. The selling spree is likely to continue even after the broader market sentiments pick up.<\/p>\n A price jump to $1 is a long shot<\/a> for XRP now. It can\u2019t be saved from a gradual descent to $0.20 by the end of the year unless there are positive developments in the Ripple vs. SEC case. Many industry experts believe that Ripple still has an upper hand in the tussle.<\/p>\n Why the SEC cannot meet its burden on (at least) one element of the Howey test.<\/p>\n In order to win at Summary Judgment, the SEC has to do two things:<\/p>\n 1. Prove every element by the greater weight of the evidence AND — Jeremy Hogan (@attorneyjeremy1) November 6, 2022<\/a><\/p><\/blockquote>\n\n
2. Prove that there is no genuine dispute of a material fact. 1\/ https:\/\/t.co\/CzCFzCSahE<\/a><\/p>\n