Is Positive news from SEC on the way?

The XRP price rally always showcases an extraordinary price movement, currently, after trending around $0.55 suddenly spiked to $0.66. The $0.11 gain in the price clearly indicates the bulls preparing themselves for a pretty big movement shortly.

Ripple’s ongoing lawsuit with SEC had a major impact on XRP price, however, it kept surging despite the stand-off. However, the current spike has amazed the entire crypto space, majorly awaiting a positive SEC update.

 On the other hand, some also believe, the XRP whales know much about the Ripple’s pre-trail and hence decided to pump XRP as predicted by XRPcryptowolf.

Therefore, a beneficial round of news may be expected which may aid the bullish trend required for the XRP price to go beyond $1. 

XRP Price Analysis

The XRP price initiated the trade the previous day with a significant plunge that dropped the price below $0.5 levels around $0.4742. However, the price successful upheld above the $0.5 levels and also closed the daily trade above these levels.

The current day trade also began with a plunge, yet failed to break the lower support levels below $0.5. Interestingly, a major boost led the price rally above $0.66 registering two consecutive, relative huge green candles.

The XRP price, currently, is attempting very hard to cross the threshold of $0.6 yet again so that the bullish momentum is kept intact. At the time of writing, the price is $0.5929 with a massive jump of 13.86%.

Technical Specifications

  • The resistance levels are formed initially at $0.6 and later at $0.6364
  • The support levels are formed at $0.5159
  • The indicators for XRP price point out towards a ‘strong buy’ signal

This article was originally published by on 2021-02-22 04:26:18. It can be viewed in it’s original state here: Source link .

Leave a comment

The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. EZCrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions. Trading and investing is risky, do so at your own risk, and we advise people to never use more money than they can afford to lose. The cryptocurrency market is a volatile and risky market. Cryptocurrency trading may not be suitable for all users of this website.

EZCrypto © 2021. All rights reserved.

My Newsletter

Sign Up For Updates & Newsletters