$XRP Faces Legal Setback but Bulls Hold Strong!

It’s been a rollercoaster for XRP lately! After a bold attempt to break through the $2.65 resistance, things took a hit when the U.S. judge denied Ripple’s joint request with the SEC. The goal was to lift the injunction on XRP sales and reduce the penalty from $125M to $50M. The judge? Not impressed. Apparently, Ripple used the wrong legal approach.

📉 Market Reaction

Right after the ruling, XRP dipped slightly, now hovering around $2.42. But hey, let’s give it credit – it’s holding firm above the crucial $2.35 support. This is no small feat, especially with all the legal noise. The market’s still got faith.

🔑 Key Levels to Watch:

Support: $2.35 (solid base), $2.30 (next defense line)

Resistance: $2.65 (major wall), $2.85 (moon target if broken)

💪 Bulls Aren’t Giving Up

Even with the legal setback, the technicals are hinting at something big. The symmetrical triangle pattern on the charts is a sign that the bulls aren’t out of steam yet. As long as XRP doesn’t dip below $2.35, the next rally could be just around the corner.

📊 Market Sentiment:

The community remains bullish, especially after some recent wins on the legal front.

Talks of an XRP ETF are keeping the spirits up.

Analysts are watching the charts closely, with some predicting a breakout toward $2.85 if resistance breaks.

⚠️ Bears on Standby

If XRP slips below $2.35, expect a quick test of $2.30. That’s where the bears might start sniffing around. But until then, the bulls still have the ball.