XRP is vastly undervalued after significant sell-off this week
, XRP has completely retraced the entirety of the move that came after the SEC v. Ripple ruling. He maintains that narratives such as the Ripple ruling do not sustainably impact the XRP price. Cowen adds that the price of altcoins is more a function of excess liquidity than of who wins a court battle.
On Aug. 17, XRP fell sharply to lows of $0.436 following a major sell-off in the market, which saw millions of dollars in crypto liquidations in a relatively short period. XRP has slightly recovered from these lows, being marginally down in the last 24 hours to $0.504.On Aug. 17, the judge released a new scheduling order in which the SEC was allowed to request an interlocutory appeal. Afterward, the SEC submitted its request for an interlocutory appeal on Aug. 18.
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