$XRP

Why XRP is bullish while the market is down ?

XRP's current price is $2.23, with a 1.87% increase in the last 24 hours, making it seem bullish despite the broader market downturn. Several factors contribute to this trend:

- *Regulatory Developments*: The recent statement by SEC Chair Atkins, signaling a pro-crypto stance and a push for regulatory clarity, has boosted investor confidence in XRP.

- *Potential Settlement with SEC*: Ongoing discussions between Ripple and the SEC may lead to a settlement, positively impacting XRP's price. Investors are awaiting the SEC's next court move, which could be a request to vacate the injunction prohibiting XRP institutional sales.

- *XRP-spot ETF Approval*: Growing optimism about the approval of an XRP-spot ETF could drive the price up. If approved, it would provide a new investment avenue for XRP, potentially increasing demand.

- *Technical Analysis*: XRP's daily chart shows a bullish pattern, with a potential rise toward $5 if it breaks out above the current correction zone. Key support levels to watch are $2.1 and $2.2075, while resistance levels are $2.50 and $2.4957.

- *Market Sentiment*: Despite current price stability, XRP underperforms the broader crypto market due to lingering legal uncertainty. However, a favorable settlement or increased buying pressure could spark a fresh rally ¹.