XRP faces downward pressure post-Judge Torres' non-security ruling, prompting sell-offs. A major whale transferring 29M XRP ($15M+) to Bitstamp signals more decline near support. SEC appeal caused XRP dip after breaching $0.6 & $0.5 levels.
Presently, the XRP price is recovering from the support level at $0.5, but there exists a substantial risk of a significant drop if traders and whales opt to liquidate their holdings.anticipated to occur around the end of April or mid-May.
This timing aligns with the court notification from both the SEC and Ripple Labs, along with CEO Brad Garlinghouse and executive chairman Chris Larsen, who cited their unavailability in the second quarter of 2024. In response, the XRP price experienced a rebound; however, the bullish momentum was not sustained.
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