#NewsTrade XRP is witnessing positive developments supported by the settlement of the dispute with the U.S. Securities and Exchange Commission (SEC) and improved market sentiment, as its price rose by 8.8% during the week. Technical analysis indicates that a breakout above the resistance level at $2.4288 could enhance bullish momentum towards $2.4772, while testing support at $2.3342 remains possible if the breakout fails. Investor confidence is bolstered as regulatory risks diminish and institutional interest increases, opening the door for additional gains if the currency surpasses key resistance levels.
Key points:
- XRP price increased by 8.8% weekly, supported by the settlement of the case with the SEC and positive market sentiment.
- The MACD indicator shows positive momentum, focusing on a resistance level of $2.4288 as a key bullish target.
- Testing support at $2.3342 is likely if the price fails to break through resistance.
- Increased investment confidence as regulatory pressures ease and interest from financial institutions grows.
- Potential for additional gains if resistance levels are surpassed in the coming sessions.
