The XRP race today is again above the psychological limit of 3 dollars. The increase comes just before an important moment: the American stock market watchdog SEC decides today on Ripple’s request to withdraw his appeal.
At the same time, interest from Japan increases, where a new ETF application XRP brings to the attention of large investors.
Explosive buying golf at Korean stock exchanges
The XRP price has risen by more than three percent in 24 hours and is therefore again above $ 3. At the same time, the trade volume also increased sharply, especially on the South Korean stock market upbit. No less than 95 million dollars was traded on XRP – a striking peak compared to the usual day average.
Crucial decision of the sec
Ripple previously decided to withdraw his appeal in the case against the American stock market watchdog SEC. Today, August 7, the SEC examines that decision.
If the supervisor agrees and does not object, that would be an important step towards the recognition that XRP is not an effect in the US. That would take away a great concern for investors who have been waiting for clarity for years.
ETF application from Japan provides extra demand
The rising XRP price is not only driven by legal developments. In Japan, SBI Holdings – one of the largest financial groups in the country – submitted an application for an Exchange Traded Fund (ETF) that contains both Bitcoin (BTC) and XRP. According to sources, companies would be willing to buy up to 1 billion dollars in XRP upon approval of the fund.
This signal of trust from institutional angle increases the pressure on the course, and feeds speculation on a possible greater role of XRP within the international financial system.
What does this mean for the XRP course?
The zone around 3.02 dollars is a first obstacle. If XRP finally comes out, traders look at 3.05 and possibly $ 3.14 as the following goals. With really positive news from the SEC or about the ETF application, even $ 3.25 is within reach. At the bottom, 2.98 dollars now offers support for the time being.
Source: https://newsbit.nl/xrp-koers-doorbreekt-3-dollar-vandaag-cruciaal-sec-besluit/
