The Ripple vs. SEC lawsuit is the most followed topic within the crypto space, as it smelt the possibility of a victory over the agencies. After multiple hearings and arguments, the judge could produce the final ruling at any time now. At this time, the XRP price is accumulating some strength as it may trigger a huge bullish wave in the coming days.
The XRP price continues to hover above $0.39, a spike of more than 12% in the past few days. Although the BTC price faced a major drop, the price of XRP maintained huge strength and hence may surge beyond $0.4 in the next few hours.
Moreover, the rally does not appear to be a short-lived one, as the chart patterns and the technicals are extremely bullish.
- The XRP price is trading within the same decisive symmetrical triangle that it began during the Q4 2022
- After rebounding from the lower support, the price reached the upper resistance and could slice through these levels shortly
- Moreover, the RSI levels are rising high without displaying any bearish divergence and hence a breach through these levels could be quite possible
- Additionally, the buying pressure has mounted and hence the upswing is believed to prevail until the price marks new yearly highs above $0.42