XRP could soar higher as the Ripple-SEC case officially ends: check forecast
Main Idea
XRP's price surged following the conclusion of the Ripple-SEC lawsuit, with potential for further gains if bullish momentum continues.
Key Points
1. XRP is up 12% in the last 24 hours, trading at $3.35 per coin, and has surpassed the $3.3 resistance level.
2. The Ripple-SEC lawsuit officially ended after both parties agreed to drop their respective appeals, concluding a legal battle that began in 2020.
3. Technical indicators suggest XRP could rally towards its recent high of $3.66, with the RSI at 74 indicating potential overbought conditions.
4. A market correction could see XRP test support at $3.1, with a failure to hold this level potentially leading to a decline to $2.89.
5. The SEC had sued Ripple in 2020, alleging violations of securities laws through the sale of XRP, with Ripple expected to pay a $125 million fine.
Description
The cryptocurrency market has been bearish since the start of the week, but could be set to end on a bullish note thanks to the ongoing rally. Bitcoin added 2% to its value to reclaim the $117k level while Ether is approaching the $4k psychological level once again. However, the biggest winner among the top 10 cryptocurrencies is XRP, which is up 12% in the last 24 hours. XRP has now topped $3.3 and could rally to a new all-time high if the bullish momentum persists. The Ripple-SEC lawsuit is of...
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