XRP Stagnates: Ripple CLO Upbeat, Gives SEC A 10% Chance of Winning If They Appeal
XRP is moving inside a tight range. Even though Ripple buyers are upbeat, the coin must breach $0.66 for uptrend continuation
XRP is moving within a narrow range, but buyers are in control. Unless there is a close above the local resistances, sellers might have an opportunity to push lower. The zone between $0.50 and $0.55 will be critical to watch, at least for now. Conversely, should buyers take over, breaching $0.66, there might be a rapid expansion in prices and engagement as a follow-through. Before then, conservative traders, even with the completion of the Ripple-SEC case, must stay on the sidelines.
The state of price action means XRP is flat, dipping slightly in the past 24 hours. However, the drop of August 15 means the coin is down 6% in the previous week. For now, trading volume remains low, below last week’s average, at just $1.1 billion.
Traders are keeping track of the following XRP and Ripple news:
- The Chief Legal Officer of Ripple thinks there is a 10% chance of the United States SEC choosing to appeal and win. As directed by the court, the blockchain firm will pay the fine as they wait for resolution within the next 24 days.
- Crypto, including XRP, stands to benefit massively now that United States politicians support this tech. Combined with the settlement of the Ripple versus United States SEC case, supporters are upbeat about what lies ahead.
XRP Price Analysis
XRP/USD is bullish and in a better position of recovery than Bitcoin or Ethereum.
The drop of early August didn’t reverse the gains of July.
At the same time, prices are trending above the $0.50 to $0.55 support zone.
While prices are inside the August 5 bar, meaning buyers have the upper hand, a close above the July high will be crucial.
Traders can wait for this trend definition, while aggressive supporters may choose to load the dips above $0.50.
Losses below $0.45 will cancel this bullish outlook, paving the way for XRP sellers to press on and target July lows.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Sidebar rates
Related Posts
SaveAdd 3440
Best Forex Brokers
| Broker | Website | |
|---|---|---|
| 🥇 |  | Visit Broker |
| 🥈 |  | Visit Broker |
| 🥉 |  | Visit Broker |
| 4 |  | Visit Broker |
| 5 |  | Visit Broker |
| 6 |  | Visit Broker |
| 7 |  | Visit Broker |
Join 350 000+ traders receiving Free Trading Signals