Ripple’s XRP is following a bullish path above the $0.50 pivot zone. A major rising channel is forming with support near $0.5140 on the 4-hour chart. The price could dip to $0.5140 before it marches higher and clears the $0.550 resistance.Earlier this week, the XRP price increased strongly from the $0.505 support zone. The price gained pace for a move above the $0.525 and $0.532 resistance levels. However, the bulls struggled again to surpass the $0.550 resistance zone. A high was formed near $0.5496, and the price reacted to the downside.XRP bulls now protect a move below the $0.515 level and the 50 simple moving average (blue, 4 hours). A major rising channel is forming with support near $0.5140 on the 4-hour chart. The current pattern suggests that the price might test the channel support at $0.5140 and then start another increase. Immediate resistance is seen near the $0.5275 level.In a recent important event, a federal judge on Tuesday refused to let the US Securities and Exchange Commission appeal her recent decision involving Ripple Labs. This is considered a major setback for SEC and might fuel more gains in XRP.If the price stays above $0.505, there could be a fresh surge toward $0.550 and then $0.620. Conversely, there could be another decline toward the $0.458 support.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Asia |
| Countries | |
| Sentiment | positive |
| Relevance Score | 8 |
| People | None |
| Companies | US Securities and Exchange Commission, Ripple Labs, cryptocurrencies, Bitcoin, CoinChapter.com |
| Currencies | XRP, Bitcoin, Ethereum |
| Securities | None |
