cryptocurrency

Can ripple touch $1 again?

Author: Trade Pro Skills

Tuesday, 22 March 2022 Number of words: 251 Study time: 2 Minutes Views: 277

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XRP at 84 cents seeking higher levels

Market analyst – IFC Markets

While XRP/USD is up by 4% in the past 24 hours, reaching $0.8627, we have to credit this gain mostly to the fundamental news. Anyway, at the current price, It’s up by 9% in the past one week and16% in the last 14 days.

XRP is now increasing mostly after the latest developments in Ripple’s ongoing case with the SEC. According to the latest reports, Judge Torres recently refused the SEC’s motion to strike Ripple’s fair notice defense, which means now Ripple will be able present its argument that the SEC never provided it with sufficient warning that XRP might be deemed a security issue. If not being too optimistic, we can say that Ripple can win its case. Even if it is not much clear when exactly the case might end, and they are pushing for a summary judgment by the middle of May, still we could see its positive effect in past days, but most probably in May, we can see higher numbers in its chart.

Ripple at 1 dollar

From the technical point of view, XRP’s currently moving in a clear uptrend. As you can see in the bellow H4 chart, MACD histograms are well above 0-level, and price moves above key supports. The first support sits at $0.78, and the second support which is the main support of XRP at the moment sits at $0.72. 

Higher hand these levels, $0.92 is the key resistance and breathing above this level we can see $1 most probably. 

Ripple at 1 dollar

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Tags: XRP
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