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XRP Consolidates Above 200-Day Moving Average, Risks of Bullish Breakout Rising Amid Ongoing Legal Battle with SEC

XRP, the cryptocurrency behind the XRP Ledger, is currently consolidating above its 200-Day Moving Average but has been in a downtrend since mid-April, leading to negative price predictions. If XRP does not break out of this downtrend, it may retest the 200-Day Moving Average and potentially even fall below it, leading to a retest of March lows. The conclusion of the legal battle between the US Securities and Exchange Commission and Ripple could be a potential catalyst for an XRP surge, but it may take a few years and further fiat currency debasement for XRP to post significant gains. Investors may want to consider diversifying their crypto holdings by investing in presales of projects with a great vision for delivering revolutionary crypto applications/platforms. Cryptonews has compiled a list of the 15 best crypto presales of 2023, according to their project evaluation, to assist investors in identifying such projects. Please note that the Industry Talk section contains insights from crypto industry players and is not part of Cryptonews.com's editorial content.

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