🟢 In the past 24 hours, the cryptocurrency market has shown strong resilience, with Bitcoin and XRP leading the BTC market. Bitcoin has successfully recovered to over $83,000, but the real suspense lies with XRP. This currency has shown clear signs of recovery, bouncing back from its low of $2, indicating a strengthening upward momentum.
🟢 The main setback for XRP's price previously was the lawsuit with the U.S. Securities and Exchange Commission. This legal battle, combined with delisting actions from U.S. exchanges, has left many traders uncertain about the future of this currency. However, recent reports suggest that this storm may soon pass. Sources indicate that the case is nearing its end, and the SEC is about to conclude its investigation into other digital currency platforms.
💼 What could trigger the next wave of increase?
- Closure of XRP lawsuit: Increasing speculation suggests that the long-awaited conclusion of the Ripple vs. SEC case could trigger bullish sentiment.
- New licenses and partnerships: Ripple is actively seeking a cryptocurrency payment license from the Dubai Financial Services Authority (DFSA), and large institutions like Franklin Templeton are seeking trading funds for XRP. These developments could drive a new wave of institutional adoption for XRP.
🟢 Price trend update: Despite the positive news, XRP still faces some downward pressure and is struggling to break through key resistance levels. The price recently broke the head and shoulders pattern, but has not yet risen above $2.28, raising concerns about short-term price movements. (
However, the Relative Strength Index (RSI) is still on an upward trend, and the Ichimoku Cloud is about to show a bullish crossover. If XRP breaks through the current range of $2.03-$2.27, we may see more tests of upward targets 🚀.
With the unresolved legal mysteries surrounding Ripple and increasing institutional interest, XRP may be on the verge of a significant surge. An XRP price reaching double digits in the near future cannot be ruled out!
Personal opinion for reference only
Daily focus: ADA SHIB SOL XRP DOGE TRYMP PEPE LTC
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