XRP's Horizontal Movement Continues: As Hopes of Compromise Rise, Uncertainty Persists
Despite expectations of a possible settlement between the SEC and Ripple, XRP lost 2.6% in value this week. Currently trading at $2.17, the asset experienced a limited increase of 0.35% in the last 24 hours. The daily trading volume reached $1.77 billion, indicating sustained market interest.
Ripple-SEC Settlement Process: Promising Developments, Expectations Lacking Clarity
A possibility of a settlement has emerged in Ripple's ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). The company's proposal includes reducing the $125 million penalties to $50 million and lifting the injunction that would conclude the process. While this development creates short-term optimism among investors, Judge Analisa Torres overseeing the case is asking for strong arguments from both sides on why the current decision should be reviewed, making the process uncertain.
XRP advocate Attorney John Deaton assesses the likelihood of a settlement at 70%. However, this rate is still far from providing a definite direction. Therefore, investors prefer to remain cautious, and profit realizations along with wait-and-see strategies are coming to the fore in the market.
Technical Outlook: Consolidation Continues, Critical Levels Under Close Watch
While the general market weakness also affects XRP, the asset has entered a horizontal consolidation process:
Descending trend resistance: the range of 2.28–2.29 dollars limits increases.
50-period EMA: continues to remain below the $2.20 level.
Support zone: buying interest is increasing in the range of $2.10–2.14.
Momentum indicators reflect the indecision in the market. The MACD histogram is approaching the neutral line, while the recent candle formations (especially spinning top structures) indicate that investors are struggling to choose a clear direction. On the other hand, the absence of the classic bearish signal known as the 'Three Black Crows' formation suggests that selling pressure remains limited.
Possible Scenarios: Critical Threshold $2.20
Strategy to be followed for upward movement:
Buy signal: the 4-hour close must be above both $2.20 and the descending trend line.
Targets: First resistance at 2,285 dollars, then 2,338 dollars.
Stop-loss: below 2,145 dollars.
Downward risk scenario:
If the support of 2,145 dollars is broken, the price is likely to test 2,086 dollars.
General Assessment
Recent price movements of XRP present a picture lacking clarity both technically and in terms of fundamental developments. While the possibility of a settlement between Ripple and the SEC is promising, its uncertainty reinforces a cautious stance in the market. In the technical outlook, the main catalyst that will determine the price direction could be a strong and voluminous breakout above the $2.20 level.
PLEASE READ CAREFULLY FOR A $10 GIFT TO 170 PEOPLE.
Friends who have not yet activated the futures trading section will earn $10 when they activate the futures trading section by entering my referral code 88623008. The first 170 people will benefit from this reward.
I AM EXPLAINING IN DETAIL.
My brothers who registered on Binance without a referral, please listen carefully;
When you do what I say in order, you will earn 10 USDT.
Enter the Futures section from your application.
On the next screen, enter the REFERRAL CODE section and open your account by entering the code 88623008.
Brothers who want to complete this transaction by April 10 and receive a $10 reward can do so. After that, you will only need to have a trading volume of $30 after activating your account. However, even if you do this after April 10, your reward will not come. Therefore, I recommend you to handle it within 5 seconds.
THE SYSTEM WORKS ON A FIRST COME, FIRST SERVE BASIS. THEREFORE, DO NOT BE LATE TO CLAIM YOUR GIFT. IT IS LIMITED TO 170 PEOPLE.
PLEASE READ CAREFULLY FOR A $3,300 GIFT.
Friends, you know we are doing everything we can for you as publishers. We communicate the services and opportunities provided to us by our officials to you. I have never withheld my support for both the cryptocurrency market and you; on the contrary, I strive to provide more support.
Now I will explain how to claim your gift. First of all, those of you who have not opened a futures trading account need to activate this account with a short transaction. I will explain how to activate it in a detailed and simple way.
So who can benefit?
Friends who have not yet activated the Futures section can activate it by entering my referral code 88623008 when opening the FUTURES section. It is an easy process. I have shown where it is below.