- Ripple legal counsel is taking a shot at sec while the price of the XRP struggles to find support. It is currently trading near the level of $0.3712 with a gain of more than 0.42%.
- The volume of the XRP has seen a dump of more than 0.45%. Meanwhile the market cap of XRP is up by 0.37%
The case between the Ripple and SEC has been taking a dramatic every day. Currently the legal counsel of Ripple has taken a shot against the SEC. In the meantime the price of the XRP is struggling to find a support near the crucial level. XRP is currently trapped in between the range of $0.32 and $0.44. If the XRP price is able to break above the crucial resistance then a strong bull rally can easily be seen in the future.
XRP is currently ranked 6th and has a market cap of more than $37,150,375,208. The volume of the asset has seen a drop of more than 0.23% in the last 24 hours. XRP/BTC pair has also seen a pump of more than 0.51% in the previous trading hour.
Is XRP Ready To Pump For A New High?
The weekly chart of the XRP suggests a formation of a rounding bottom pattern which can lead to a new high. On coming to the daily chart, the asset price is currently trading near its 50 and 100 Daily Moving Average. If the asset sees a positive crossover then a strong bullish trend can be seen in the future. The price of the asset is currently consolidating in a specific range. The major support of the XRP can be seen near the value of $0.3. The resistance of the asset can be observed near the value of $0.45.
RSI: The RSI of the asset is currently near the value of 55. It has formed an upside trend line and can see a new high in the future. The overall sentiment of the RSI is bullish.
Conclusion
The case between the XRP and SEC has kept the ripple price at a consolidation. The price of the XRP can see a strong move in the future.
Technical Levels
Major Support:$0.30 to $0.32
Major Resistance:$0.45 to $0.48
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/08/04/xrp-price-analysis-will-xrp-price-see-a-strong-rally-in-future/