XRP prices are riding a wild wave, as seen in the ever-changing daily chart. While Ripple enthusiasts are filled with bullish energy, the market has yet to experience a surge in prices. Currently, the coin is facing a formidable barrier at $0.66, while finding support at $0.59.
XRP remains unwavering, with little to boast about in terms of recent growth. Its value has plateaued, hovering at its current levels. The market cap has remained stagnant at $34 billion, with a meager increase of less than 1% in the last 24 hours.
However, a glimmer of excitement has emerged following yesterday’s surge. And while trading volume has risen by 8% to $2.7 billion, it seems that the potential for further gains is brewing.”
The following XRP and Ripple news developments may impact price action in the coming days:
- Judge Analisa Torres has just approved a joint motion by Ripple Labs and the SEC to seal crucial information in the ongoing XRP lawsuit. This decision comes after intense discussions between the two parties to ensure a fair and just resolution. As the legal battle continues, lawyers will be working tirelessly to determine what details can be revealed and what must remain confidential.
- Amidst the ongoing debate in the United States, the European Corporate Governance Institute (ECGI) has deemed XRP as a utility, placing it in the same league as Bitcoin.
XRP Price Analysis
XRP/USD has been treading water within a narrow range over the past week, leaving traders on the edge of their seats.
But don’t let the lackluster movement fool you – a major breakout could be just around the corner. Keep a keen eye on the $0.66 mark, as a close above it would signal a powerful breakout similar to the one we saw on March 11.
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However, if the bulls fail to push through, we could see a drop to the $0.57 to $0.59 range, and potentially even a plunge to $0.50.
This would confirm the ominous double-top pattern that has emerged on the daily chart. The possibility of XRP skyrocketing above $0.74 could potentially shatter this bearish forecast.