XRP Price Rises 26 Percent: Speculation of SEC Investigation Closing Heats Up
The price of
This surge created a stir in the crypto community, with investors and analysts watching this development closely.
Bullish Signs on XRP Price
On the weekly chart, the Fisher Indicator shows a very bullish reversal. According to analyst Dark Defender, XRP has managed to break through initial resistance at US$0.4623.
Currently, the coin is testing the interim Fibonacci level of US$0.5286, with experts predicting a strong close above US$0.53 this week. This bullish momentum suggests that XRP could continue to rise.
Next week, there is a strong possibility that XRP will test the second intermediate resistance at US$0.6044. It is important not to underestimate a key fundamental level on XRP, which is trading at US$0.6649. Passing this level could trigger a significant price spike, which analysts call Heaven's Stairway.
This bullish momentum comes amid growing speculation that the US SEC may close their investigation into Ripple, signaling a potentially major regulatory shift.
A move like this could classify XRP as a non-security, representing a major win for Ripple and potentially causing further increases in XRP prices.
Fueling the furor further, US regulators recently held closed-door meetings as part of their regular discussions on key issues.
