📢 SEC’s New Crypto Strategy Sends Ripple (XRP) Into Freefall 📉

The U.S. Securities and Exchange Commission (SEC) has lately been after major cryptocurrencies and platforms that have caused a lot of regulatory uncertainty. The SEC has also been targeting staking services and DeFi platforms in a move that has rattled crypto markets this week.

Ripple (XRP), Solana (SOL), and Cardano (ADA) have all dropped in value because of the same, along with some other external factors.

♦️SEC’s Legal Battle With XRP Continues

In 2022, Chair Gary Gensler emphasized that “the vast majority of crypto tokens are securities,” directly implicating altcoins like XRP, SOL, and ADA should fall under the US securities law. Ripple’s XRP, already involved in a three-year lawsuit, has plunged 10.8% in the last week.

Moreover, as the case awaits its conclusion, investors are uncertain about XRP price. On-chain data reveals panic selling. This, coupled with the ongoing US stock market bloodbath, has left investors with no option but to turn to stable coins.

Bitcoin follows a textbook ascending broadening wedge pattern, which projects a target price in the low $70,000s,” Markus Thielen, the founder of 10x Research, said in an emailed note.

Analysts also pointed to U.S. president Donald Trump’s growing international trade war as driving the latest crypto market sell-off, which comes alongside the U.S. stock market falling from its all-time highs.

Conclusion

The SEC’s aggressive stance has cast a shadow over XRP and major altcoins. Now, as traders are warned not to “buy the dip," analysts are predicting how deep the bitcoin price correction could go and if it will escalate into a full-blown market crash.

$XRP $BNB $SOL

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