Tensions are rising in the lawsuit between Ripple and the SEC after Judge Analisa Torres denied the joint request from Ripple and the SEC for a summary judgment. This legal update immediately impacted the market, causing the price of XRP to drop to $2.09 before recovering slightly to around $2.10. This coin has decreased by 5% following this information.
XRP Price Prediction
The overall price trend of XRP remains tilted towards the downside. This coin continues to create lower highs and lower lows, a sign of weakness in the market. Although small price jumps may occur even in a downtrend, a real reversal will require XRP to start forming higher lows and eventually surpass previous highs.
Currently, XRP is struggling to break through the important resistance zone between $2.19 and $2.20. If the price can rise above $2.20 with a strong daily close, the next target area will be around $2.30 to $2.35. A breakout above this level would signal a stronger bullish trend and could open up opportunities for a price increase to $2.60.
Could the price of XRP fall below $2?
On the downside, the key support zone to watch is between $2.05 and $2.10. If XRP drops below this level, the next support will be around $1.92 to $1.95. Currently, the momentum remains weak, with short-term gains occurring in a predominantly bearish market structure.
For this bullish scenario to hold, XRP needs to stay above the support zone of $2.08. If the price drops below this level, the risk of the market creating a new low will increase. If that happens, the focus will shift to a larger support level around $1.79.
Currently, while Bitcoin has started to show signs of forming a five-wave upward pattern, XRP has yet to do the same. Until clear signs of strength emerge, experts are monitoring the maintenance of support and any movements that could lead to the fifth upward wave.
Source: https://tintucbitcoin.com/du-doan-gia-xrp-toa-can-ripple-sec/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news in the cryptocurrency market and not miss any important information!
