XRPSEC

The cryptocurrency market is currently trying to bounce back after experiencing a minor dip. Bitcoin is currently trying to rise above the $99,000 levels and is up by more than one percent in the last 24 hours. Cardano has climbed by more than 9% in the last 24 hours and Dogecoin has also gained 4%. As for $XRP , it has been moving along with the market, and XRP/BTC is showing slight upward movement. However, nothing major is happening right now.
XRP is still bouncing from a short-term support zone, ranging between $2.25 and $2.30. If the price stays above this level, it could maintain the bounce. However, if XRP closes a daily candle below $2.25, the next support level is around $2, specifically between $1.95 and $2.05. On the upside, the resistance to watch is between $2.58 and $2.63. If XRP pushes above this zone, stronger resistance could be found around $3.20 to $3.30.
Current Market Sentiment
While $XRP is still under a larger bearish divergence, which is impacting the price on the daily and 3-day charts, we are currently experiencing a short-term bullish divergence on the 8-hour chart. This has provided a brief relief from the downward trend, leading to some sideways movement or a small bounce.
Short-Term Outlook
The current relief could continue for a few more days, but it’s important to note that this isn’t a full reversal into a bullish trend. It’s more of a pause in the ongoing bearish trend. A continued bounce or sideways movement is likely, but the overall market still faces pressure in the longer term.
The SEC Case and XRP’s Future
The big hurdle for XRP continues to be the ongoing legal battle with the SEC. Once this case is resolved, we could see a significant boost in XRP’s price, as all the positive momentum currently building up will likely surge at once. If the SEC case is settled, it could see XRP make bigger moves.
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A closed-door meeting of the U.S. Securities and Exchange Commission (SEC) on January 30 has sparked new speculation about the future of the ongoing Ripple case. This marks the fifth such meeting of the year, and it has grabbed the attention of the $XRP community, which is hopeful for potential developments regarding the lawsuit.
The meeting, scheduled in advance and disclosed via a Sunshine Act notice on the SEC’s website, will feature SEC acting Chair Mark Uyeda and Commissioner hester peirce information
Uyeda’s leadership is drawing particular attention, as he is known for his critical stance on using enforcement actions to regulate cryptocurrency.
The subject matter of the closed meeting will consist of the following topics:
Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings;
Resolution of litigation claims; and
Other matters relating to examinations and enforcement proceedings.
As he continues serving as interim chair, awaiting confirmation from the U.S. Senate for a permanent successor, many believe his leadership may favor clarity and fairness for the crypto industry.
Ripple’s Potential Breakthrough
Adding to the anticipation is the recent development that the SEC has reportedly removed all references to Ripple from its litigation releases section on its website. This has led to speculation that the lawsuit involving Ripple may be nearing its end. Although this change is not conclusive proof that the case is over, it has certainly fueled excitement within the XRP community. The situation remains fluid, and while there is no official confirmation, the XRP community is hopeful that this is a sign of progress.
Brad Garlinghouse, the CEO of Ripple, recently spoke about the dangers of crypto maximalism, advocating for a more inclusive approach to the industry. brad garlinghouse information
who owns various cryptocurrencies including XRP, Bitcoin, and Ethereum, expressed his belief that a collaborative attitude is essential for advancing the crypto space.
#Xrp🔥🔥 #BTC #xrpsec #Write2Earn!