NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Key Levels to Watch as Ripple’s XRP Crashes amid SEC Lawsuit FUD

Yashu Gola
Yashu Gola
4 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

In a reversal of fortunes, Ripple’s XRP crashed drastically as investors reacted to a lawsuit from the Securities and Exchange Commission (SEC) alleging the token is illegal security.

The US securities regulator charged San Francisco-based Ripple Labs and its two executives for allegedly selling $1.3 billion worth of XRP in an unregistered public sale.

“We allege that Ripple, [Chris] Larsen, and [Brad] Garlinghouse failed to register their ongoing offer and sale of billions of XRP to retail investors, which deprived potential purchasers of adequate disclosures about XRP and Ripple’s business and other important long-standing protections that are fundamental to our robust public market system,” Stephanie Avakian, the director of the SEC’s enforcement division, said in a statement.

Nevertheless, Ripple CEO Brad Garlinghouse rubbished the SEC lawsuit by calling it “fundamentally wrong as a matter of law and fact.” He vowed to challenge the regulator in court. Unfortunately, his assurance did little in helping XRP out of its running freefall.

Bearish Woes

The cost to purchase one XRP token sunk by as much as 37.94 percent in response to the SEC’s charge. It happened as the total XRP long liquidations in the last 24 hours surpassed the $36.5 million mark.

Meanwhile, XRP’s potential to register extended losses increased further after OSL, a Hong Kong-based trading platform, delisted its Ripple-oriented services. Some community members agreed that it could prompt other exchanges to delist XRP as well.

Some thoughts on $XRP

-Problems with the SEC = You are f**cked
-November pump, supported by the airdrop, might be initiated by whales as last chance to dump at high prices
-First exchange delisting $XRP might cause a chain reaction
-I'm done with $XRP
-Chart looks awful pic.twitter.com/Dv4Bw3B7Ft

— Crypto$Hannibal 💙🇺🇦 (@CryptoHannibal1) December 23, 2020

That raised the worries of a Long Squeeze — a situation in which investors who hold long positions feel the need to sell into a falling market to cut their losses.

XRP Technicals

XRP completely invalidated the Bull Flag indicator after its strong upside rally last week on a technical front. As shown in the chart below, the token broke below the consolidation pattern to flip crucial support at $0.33 into resistance.

Ripple, XRP, XRPUSD, XRPBTC, XRPUSDT, cryptocurrency
The Ripple token eyes further downside correction as the SEC FUD grows. Source: XRPUSD on TradingView.com
The Ripple token eyes further downside correction as the SEC FUD grows. Source: XRPUSD on TradingView.com

Traders now eye an extended correction towards levels with historical value. The first in line is $0.26 that served as resistance during the September-November consolidation period. Breaking below the flipped level would have the XRP price test $0.20 as its downside target.

 

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

XRP

XRP To Hit $4 This Week? This Crypto Expert Thinks So

XRP is back in the spotlight after a sudden pop in price. At press time, the token traded at $2.80,...

Christian Encila 11 hours ago
Bitcoin Breaks Records: What Miners and Leverage Traders Are Doing Behind the Scenes

Bitcoin Breaks Records: What Miners and Leverage Traders Are Doing Behind the Scenes

Bitcoin has surpassed its previous all-time high, reaching $118,254 and marking a notable milestone in its price trajectory. This latest...

Samuel Edyme 1 day ago

No Mania Yet: Bitcoin ATH Lacks Hype, Suggesting Further Upside Potential

As Bitcoin (BTC) continues to post new all-time highs (ATH), reaching as much as $118,869 on Binance, market indicators show...

Ash Tiwari 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ripple

Ripple’s $21 Trillion Dream: What Capturing 20% Of SWIFT Volume Means For XRP

Scott Matherson 2 hours ago
Bitcoin

Bitcoin Stalls After Rally: Will It Blast Through $125,000 Or Slip Back To $110K?

Scott Matherson 5 hours ago
Ethereum

Ethereum Chart Confirms Bull Flag Breakout: $3,834 Target Comes Into View

Scott Matherson 8 hours ago

Premium Sponsors

Press Releases

  • アルトコイン急騰の今買うべき仮想通貨プレセール

    ...

    9 hours ago
  • 仮想通貨おすすめ|強気市場で爆発的成長が見込まれる注目のミームトークン

    ...

    9 hours ago
  • BTC最高値更新の中で注目される新たなレイヤー2プロジェクトが狙う仮想通貨1000倍の可能性

    ...

    9 hours ago
  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    1 day ago
  • 仮想通貨 おすすめ|急騰するDogwifhatとFartcoin、注目の低価格ミームコインとは?

    仮想通貨...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.