UK Official Meets Ripple as XRP and Bitcoin Markets Face Downward Pressure
UK Official Meets Ripple as XRP and Bitcoin Markets Face Downward Pressure
Ripple's President, Monica Long, met with a UK economic secretary in Singapore to discuss crypto advancement, potentially signaling positive regulatory engagement. However, the broader crypto market is showing signs of unease, with XRP possibly dropping below $2 according to technical indicators. Bitcoin is also facing significant challenges, including a substantial liquidation imbalance and a massive $1.5 billion sell-off from a long-term whale.
Ripple's Regulatory Outreach
Monica Long, President of Ripple, engaged with a top UK economic official in Singapore, focusing on discussions around crypto advancement. This high-level interaction highlights ongoing efforts to foster a conducive environment for digital assets.
Market Volatility for XRP and Bitcoin
Despite some positive regulatory news, the crypto market is currently experiencing significant turbulence. Technical analysis suggests XRP could see a drop below the $2 mark. Bitcoin is also under pressure, facing a 'brutal' 400% long-side liquidation imbalance and a notable $1.5 billion sell-off by a veteran whale, indicating potential downward price movements.