’Idiotic Theory’: Bill Morgan Rejects Ripple Dumping Claims for XRP Dip
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XRP
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- XRP price drops ~3% unexpectedly after positive Ripple SEC settlement news
- Community poll suggests market manipulation suspected over Ripple dumping
- XRP TA shows key test near $2.38 EMA resistance, $2.33 support critical
XRP registered a surprising 3% decline over the past 24 hours, trading around $2.37, despite a nearly 25% jump in trading volume.
This dip, which saw a low of $2.33, comes shortly after Ripple announced a settlement in its long-running case with the U.S. SEC—a development that left many investors puzzled by the negative price action. The price currently tests immediate resistance near the 20-day Exponential Moving Average (EMA) around $2.38.
Related: XRP’s Next Chapter? Analysts See “Price Discovery” Mode After SEC Settlement
Poll Suggests Market Manipulation, Not Ripple Dumping
The unexpected move prompted discussion within the crypto community, highlighted by a poll on X (formerly Twitter) conducted by user “Vincent Van Code.”
He observed the decline occurred just after Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed the positive SEC settlement news.
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