XRP Stays Near Key Support Amidst Investor Uncertainty as SEC Meeting Looms

Ripple’s native token, XRP, is currently holding steady near its 50-day moving average at $2.34. Traders are awaiting regulatory clarity from the US Securities and Exchange Commission’s (SEC) upcoming meeting scheduled for Thursday, May 29th. The market shows a sideways trend with a weekly range of $2.29 to $2.47, showing growth of 7% over the last month and 1.4% in the previous day. CoinGlass data indicates an increase in open interest, rising by 2.25% to $4.76 billion, alongside a surge in XRP derivatives trading volume, up 25.82% to $3.14 billion over the last day, indicating increased speculative activity and trader positioning.