XRP price at risk as NYDFS removes Ripple from approved-tokens list
FXstreet
19 Sep 2023 12:26 AM
XRP price has been influenced by external conditions for quite some time now, going back to 2020. The token took its time to gain the status of being ...
- The New York Department of Financial Services (NYDFS) has updated its virtual currency oversight regime and removed 25 crypto assets, including XRP, from its approved tokens list.
- The exclusion of XRP from the "greenlist" could lead to a decline in its price and potentially harm investors.
- XRP's price is currently close to breaching a key barrier at $0.505, which, if flipped into a support floor, could initiate a recovery rally.
- If the breach fails or external factors negatively impact XRP, its price could decline to test the support at $0.480.
The sentiment of the article is mostly negative, as it highlights the potential negative impact of XRP's delisting and price decline on investors.
You May Ask
What is the significance of the NYDFS updating its virtual currency oversight regime?Why has XRP been removed from the "greenlist" of approved tokens?How could XRP's delisting affect its price?What is the current price level of XRP and what key barrier does it need to breach for a recovery rally?What are the potential consequences if XRP fails to breach the key barrier or faces external negative factors?