Shift

Moon

<img decoding="async" width="1280" height="720" src="https://coingape.com/wp-content/uploads/2024/04/xrp-prce-logo.jpg" class="attachment-full size-full wp-post-image" alt="xrp price chart" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/04/xrp-prce-logo.jpg 1280w, https://coingape.com/wp-content/uploads/2024/04/xrp-prce-logo-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2024/04/xrp-prce-logo-1224x689.jpg 1224w, https://coingape.com/wp-content/uploads/2024/04/xrp-prce-logo-768x432.jpg 768w, https://coingape.com/wp-content/uploads/2024/04/xrp-prce-logo-678x381.jpg 678w, https://coingape.com/wp-content/uploads/2024/04/xrp-prce-logo-150x84.jpg 150w" sizes="(max-width: 1280px) 100vw, 1280px">
<p class="p1">XRP price is trading within a lethargic atmosphere characterized by constricted lock-step price action on the upside and profound movement downwards. The cross-border money remittance token although up a modest 1.1% in the last 24 hours, has lost 0.5% of its value in the last hours to $0.52. This mundane technical picture is reflected across the board, with <a href="https://coingape.com/why-bitcoin-price-is-falling-today/">Bitcoin price</a> struggling to defeat resistance at $64,000 and Ethereum price hovering between $3,100 support and $3,200 resistance.</p> 
<h2 class="p1" id="is-xrp-price-doomed-amid-ripple-s-regulatory-woes">Is XRP Price Doomed Amid Ripple’s Regulatory Woes?</h2> 
<p class="p1">Disclosures by Ripple, the company that issues XRP, have revealed the tectonic shifts in the network known for its role in blockchain-based cross-border payments.</p> 
<p class="p1">As the case between Ripple and the <a href="https://coingape.com/ripple-vs-sec-new-scheduling-order-issued-by-judge-netburn/">SEC</a> enters the homestretch without much promise of a win for XRP, the blockchain startup is making structural changes to its On-Demand Liquidity (ODL) service, especially for its clientele in the US.</p> 
<p class="p1">Ripple is adopting the largest stablecoin USDT to be used by its US clients, according to a recent filing the court. In other words, Ripple has faced ODL customers. However, a subsidiary of the company based in Singapore is currently in charge of ODL clients. This outlook was shared by Moon Lambo, a YouTuber.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Ripple President Monica Long says they don't have any ODL customers. According to Ripple's latest filing, a Singaporean subsidiary has ODL customers using <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a>, but Ripple itself does not. Would an injunction to stop's Ripple's ODL apply to Singaporean subsidiary? If not, then as…</p> 
 <p>— Moon Lambo (@MoonLamboio) <a href="https://twitter.com/MoonLamboio/status/1783388482720665823?ref_src=twsrc%5Etfw">April 25, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p class="p1">The move is believed to have been necessitated by last year’s court ruling which deemed institutional XRP sales securities. As such, Ripple faces a $2 billion SEC proposed penalty for violating US security laws.</p> 
<p class="p1">Moving forward, Ripple has distanced itself from the sale of <a href="https://coingape.com/markets/xrp-price-prediction-as-xrp-hits-0-5-amid-ripple-vs-sec-intense-legal-battle/">XRP</a> in the US but it is indirectly engaged in similar sales with non-US firms. US-based firms have been transitioned to use USDT, bringing currency transactions.</p> 
<p class="p1">According to Bill Morgan, a lawyer and digital asset enthusiast, the move ought to be of concern to XRP. He argued on X that “Those saying it does’t matter because XRP itself has clarity are underestimating the adverse consequences for XRP and the XRPL ecosystem of a broad permanent injunction that stops Ripple’s ODL or stops use of XRP in ODL.”</p> 
<p class="p1">Holders of XRP seem worried ahead of the ruling in the lawsuit heading to trial. Some have say that they are ready to exit, doubting whether Ripple’s potential move from the US would be impactful.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">If Torres rules on a permanent injunction on the ODL- I am out. The damage it could cause to Ripple’s business is a risk I don’t want to wave through. Sure they can potentially sustain the business outside of the U.S., but it’s not a gamble I plan to play ::sigh::</p> 
 <p>— Sherrie <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f338.png" alt="🌸" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CherryEmpress21) <a href="https://twitter.com/CherryEmpress21/status/1783125870959374676?ref_src=twsrc%5Etfw">April 24, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h2 class="p1" id="can-xrp-price-resume-the-uptrend">Can XRP Price Resume The Uptrend?</h2> 
<p class="p1"><a href="https://coingape.com/markets/xrp-price-prediction-as-ripple-moves-100m-xrp-0-3-or-1-beckoning/">XRP price</a> holds support at $0.5254 on Friday during US trading hours. The token rose to $0.5664 this week after Bitcoin halving. However, resistance highlighted by the 50-day Exponential Moving Average (EMA) and the 200-day EMA (red and purple lines on the chart) capped the gains.</p> 
<figure id="attachment_193849" aria-describedby="caption-attachment-193849" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-193849" src="https://coingape.com/wp-content/uploads/2024/04/XRPUSD_2024-04-26_17-48-56.png" alt="XRP price chart | Tradingview" width="2694" height="1444" srcset="https://coingape.com/wp-content/uploads/2024/04/XRPUSD_2024-04-26_17-48-56.png 2694w, https://coingape.com/wp-content/uploads/2024/04/XRPUSD_2024-04-26_17-48-56-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/04/XRPUSD_2024-04-26_17-48-56-1224x656.png 1224w, https://coingape.com/wp-content/uploads/2024/04/XRPUSD_2024-04-26_17-48-56-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/04/XRPUSD_2024-04-26_17-48-56-1536x823.png 1536w, https://coingape.com/wp-content/uploads/2024/04/XRPUSD_2024-04-26_17-48-56-2048x1098.png 2048w, https://coingape.com/wp-content/uploads/2024/04/XRPUSD_2024-04-26_17-48-56-150x80.png 150w" sizes="(max-width: 2694px) 100vw, 2694px">
 <figcaption id="caption-attachment-193849" class="wp-caption-text">
  XRP price chart | Tradingview
 </figcaption>
</figure> 
<p class="p1">The Relative Strength Index (RSI) position at 39 indicates that sellers are majorly in control. If the downtrend into the oversold region continues, the path of the least resistance will remain downwards in the short term and perhaps trigger losses below $0.5.</p> 
<p class="p1">On the other hand, holding above $0.55 or closing the day above $0.52 immediate support may encourage bulls to push for a falling wedge breakout with the potential to blast the <a rel="nofollow" href="https://www.coingecko.com/en/coins/xrp">price of XRP</a> to $0.7 and subsequently narrow the gap to $1.</p> 
<p>The post <a href="https://coingape.com/markets/xrp-price-how-xrp-stands-to-lose-with-ripples-shift-to-usdt-for-odl/">XRP Price: How XRP Stands To Lose With Ripple’s Shift To USDT For ODL</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

XRP Price: How XRP Stands To Lose With Ripple’s Shift To USDT For ODL

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