- Dogs shifts the focus towards the SEC, as the crypto -investors expect an exam will reveal abuse in their business against Ripple.
- SEC can suspend its appeal against the judge of Analysses Torres, the XRP retail sales government that does not constitute securities.
- XRP may decrease to $ 2.24 if it cannot bounce off support of $ 2.55 and restore $ 2.72.
On Tuesday, in the early Asian meeting, Ripple at the beginning of the Asian session was a decrease by 4% after the announcement that the Department of Government Efficiency (DOGE) was aimed at the securities and exchanges commission (SEC) as the next agency to encounter the exam process.
Doge to explore the SEC as members of the XRP community expect a positive result
The Department of State Efficiency (DOGE), headed by Tesla and the general director of SpaceX Elon Musk, shifts his attention to the SEC in order to examine them for waste, fraud and abuse.
Over the past 24 hours, the dog in the study of SEC has increased volatility. Most Crypto Community members expect the Ripple VS. SEC will be under the center of attention during the DOGE exam.
New: @doge turns its attention to @secgov. https://t.co/9ocjmzthek
– Eleanor Terrett (@eleanorterrett) February 17, 2025
If the dog finds a lot of waste or abuse associated with cryptocurrency, such as Ripple VS. SEC, this can strengthen the opinions that the agency was illegally pursued by crypto companies under the leadership of the former chairman Gary Gensler.
Rain allegedly discovered waste and abuse of state funds in several US agencies.
Meanwhile, the new SEC administration should hold a closed meeting in the case of February 20. The agency may decide on an appeal against the decision of the judge of the analysis of Torres, submitted by the previous administration, an analogically recent pause, which she carried out on cases against Binance and Coinbase. Such a result can signal the end of its legal struggle against Ripple.
This can cause the approval of XRP ETF applications, which SEC recognized on Friday.
XRP can find support for about $ 2.24 if it cannot restore $ 2.72
XRP failed to maintain a step higher than 2.72 dollars in the USA after a decrease in 3%decreased over the past 24 hours. This marks the rollback after 10% of the recovery last week.
The 14-day exponential sliding average (EMA) near the level of $ 2.55 can provide XRP support to bounce above $ 2.72. However, if support in the amount of $ 2.55 does not succeed, a token based on money transfers may decrease to a support level of $ 2.24.
XRP/USDT Daily Hacart
The RSI relative force index and a stochastic generator are higher than their neutral levels, but down, which indicates a weakening of a bull impulse.
The daily candlestick, closed below $ 1.96, will annul the dissertation and send XRP at the level of $ 1.35.
