Summary
- The Ripple vs. SEC lawsuit is being closely followed within the crypto space, as it may have a major impact on the XRP price.
- The XRP price has seen an increase of more than 12% in the past few days, and appears to be headed for further growth.
- Technical indicators suggest that a breach of the upper resistance level is likely, and prices could reach new yearly highs above $0.42.
XRP Price Analysis: Will the Crypto Space Follow the XRP Price’s Massive Bullish Signals?
The Ripple vs. SEC lawsuit is the most followed topic within the crypto space, as it smelt the possibility of a victory over the agencies. After multiple hearings and arguments, the judge could produce the final ruling at any time now. At this time, the XRP price is accumulating some strength as it may trigger a huge bullish wave in the coming days.
Price Movement
The XRP price continues to hover above $0.39, a spike of more than 12% in the past few days. Although the BTC price faced a major drop,the price of XRP maintained huge strength and hence may surge beyond $0.4 in the next few hours.
.
Moreover,the rally does not appear to be a short-lived one, as chart patterns and technicals are extremely bullish. Trading View showed that XRPs trading within same decisive symmetrical triangle that it began during Q4 2022 after rebounding from lower support. The RSI levels rising high without displaying any bearish divergence suggesting breach through these levels possible soon .Additionally buying pressure has mounted and hence upswing likely until marks new yearly highs above 0$42
.