XRP and return to $0.41 hinges on US stats and SEC v Ripple updates

US Economic Indicators and SEC v Ripple Jitters tested buyer appetite

There were no further updates from the SEC v Ripple case to make an impact, leaving XRP in the hands of the broader crypto market.

In the morning session, profit-taking sent XRP into the red, with US economic indicators also influencing. XRP continues to show more sensitivity to market forces as investors monitor updates from the SEC v Ripple case.

While there were no updates to consider, investors are awaiting revised versions of Wednesday’s summary of the response documents. Although revised transcripts will be available on December 5, they may appear at any time, focusing on documents related to Hinman’s letter.

Inclusion of the Hinman documents in the filings could force the SEC into a settlement. Historically, the SEC has failed to protect Hinman documents related to her speech on more than six occasions. The high number of failed attempts reflects the SEC’s desire to prevent the documents from being released to the public.

In a famous speech in 2018, corporate finance department William Hinman said that Bitcoin (BTC) and Ethereum (ETH) are not securities.

As investors await the revised releases, we can expect investor concerns and the broader market to be affected.

Today, the US jobs report will influence the NASDAQ Composite Index and the crypto market. Investors are looking forward to numbers that will support the Federal Reserve Bank in December, but do not fuel fears of a recession in the United States. However, how impactful the US statistics will be will depend on updates from the SEC v Ripple case.

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