XRP coin – Bullish momentum in sights & lawsuit update

Related Topics

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

XRP coin is at crossroads between bullish and bearish pressures. XRP coin has been falling in tandem with the crypto market; however, in the daily timeframe, minor bullish momentum can be seen. At the time of press, XRP coin stands at a price level of $0.54. The price has increased by 3% in the past twenty-four hours while the daily trading volume has dropped by nearly 9%. In the past seven days, XRP has declined by 9%.

XRP Coin Technical Analysis

The market sentiment for the cryptocurrency is bearish. Out of the total twenty-six technical indicators, fifteen are standing at a position of sell with nine indicators are standing at a neutral position and only three indications are at a bullish position of buy. The oscillators are neutral while the moving averages suggest a strong downtrend.

XRP Coin Technical Analysis
XRP Coin Technical Analysis

A trader has identified a crucial support level for the cryptocurrency in his analysis. Per the trader, the support level at $0.51 will help XRP coin regain bullish momentum. The cryptocurrency can be observed to be on a pull back to the upside from the support level. If the bulls begin to gain footing in the market, the price target at $0.70 will be activated for XRP coin. If the price target is achieved the next target will lie at $0.82. The upcoming price action of the cryptocurrency will prove to be crucial for its future trajectory.

XRP lawsuit update

Ripple Labs has been tangled in a lawsuit with the SEC as the SEC accuses Ripple Labs of being involved in the illegal securities trade of XRP. Both parties have been going back and forth – delivering blows – but no decisive judgment seems to be insights. Ripple Labs did bag a small victory as the presiding judge granted the counsel its motion to dispose an SEC executive. The deposition, originally to be held on 19 July, was delayed by the court till 27 July so that both parties can reach an agreement regarding the scope of the deposition.

Leave a Comment

Your email address will not be published. Required fields are marked *


UNUS SED LEO – Where to Now?

According to coinmarketcap, the total supply of LEO is around 985M LEO and the circulating supply is around 953M LEO. It holds the 52nd rank

Don’t Fall Behind


Latest Posts

Don’t Fall Behind

Each one contains a weekly recap of the cryptocurrency market, top gainers and losers, new all time high achievers, key ICOs and Hottest Airdrops. Plus, you can expect to find one or two other topics in there as well as lots more data to keep things interesting.

Sign up today for our free weekly newsletter!

100% free. stop anytime no spam