SEC has been on XRP’s toes for numerous findings. Whether or not the result of this confrontation will hurt the crypto community is not simple to answer. But whatever be the result, it will have a huge impact on further prospects of XRP. There is a good chance that this case doesn’t escalate to a trial and bring a sigh of relief for the entire crypto community.
XRP Technical Analysis
200 Day Moving Average- $0.73
Immediate Resistance Levels- $0.70
Immediate Support Levels- $0.55
Irrespective of the SEC proceedings, XRP is inching towards its resistance at $0.70. Persistent attempts of closing above the resistance have brought a sentiment of profit booking as XRP enthusiasts are still worried by possible SEC outcomes. The MACD indicator is showing a halt in bullish sentiment for the last two days, as XRP struggles to close above the $0.70 levels.
Based on our XRP price predictions, trading in a consolidation zone brings a scope of good short-term profit making scopes. Currently, it is a 10% zone bottoming out at $0.63, and RSI is also supporting this trend. For trading higher, XRP needs to breakout above the $0.75 range.