Timothy Peterson, a crypto analyst at Cane Island Alternative Advisors, estimated that XRP investors lost an average of $ 6,000 in the recent market decline due to the SEC case against Ripple.
According to Peterson, the SEC’s actions have damaged XRP investors a total of $ 10 billion as explained below.
XRP Returns $ 0.30 Support Zone
XRP’s downtrend due to bad news eased as it jumped from the $ 0.20 support level earlier yesterday. XRP quickly recaptured the $ 0.25, $ 0.30 and $ 0.32 support zones before being rejected in the $ 0.35 resistance zone. At the time of writing, XRP seems to be trading at $ 0.34 and trying to break the $ 0.35 resistance area once again.
At the macro level, the coin is still trading above the crucial 200-day moving average currently in the $ 0.30 price area. Keeping XRP above this moving average is crucial to maintaining an upward movement despite the SEC case.