Last week, Ripple XRP The coin has faced significant resistance. Since the mid-March surge, Ripple Labs’ native token has fallen rapidly, falling to $0.6272 as of today. Experts are expressing hope that XRP can go beyond the $0.73 level this month and have a great April.
However, XRP’s recent struggles are concerning. If the asset continues at the current pace, it could start April below $0.60.
The SEC’s latest decision against Ripple Labs has set a new development path for XRP. The regulator is seeking a $2 billion penalty from Ripple in their lawsuit, which has been described as “exploitative” by many analysts and investors within the XRP community. Moreover, some XRP fans believe that this step by the SEC could trigger a decline for the asset.
Will XRP Drop Below $0.60?
The question is whether XRP will fall below $0.60. cryptocurrency It is entirely speculative regarding the currency’s ability to break through its current resistance levels. Since March 14, XRP has traded as high as $0.66 after surpassing $0.70 for the first time since November 2023. However, transaction volume in the last 24 hours decreased by 10%. If interest in XRP continues to decline, this could only be a negative signal for the asset.
If XRP falls below $0.60 in its current situation, it would be a pretty steep drop. In order for XRP to fall below this level, an extraordinary situation will be required. Ripple’s native cryptocurrency already seems to be struggling even with crypto market-boosting events like the Bitcoin Halving. Therefore, a pump may be required in the near future. It is possible to see a similar fluctuation experienced in March again and altcoinIt is thought that the price is likely to rise to ensure maximum gains before the halving.
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