XRP prices remain choppy, looking at the formation in the daily chart. Ripple supporters are bullish. However, this optimism has yet to translate to s
XRP prices remain choppy, looking at the formation in the daily chart. Ripple supporters are bullish. However, this optimism has yet to translate to sharp price gains, at least for now. The coin has resistance at $0.66. On the other hand, support is at $0.59. In the sessions ahead, traders can wait and see how prices react at these levels.
XRP is steady without any meaningful gains in the last day or week. Value is at around the current levels. To illustrate, the market cap remains flat at $34 billion, posting less than 1% in the last day. However, there appears to be interest spilling over after yesterday’s gains. For now, trading volume is up 8% to $2.7 billion.
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The following XRP and Ripple news developments might influence price action in the days to come:
- On March 20, according to court documents, Judge Analisa Torres granted an order on a joint motion by Ripple Labs and the SEC related to sealing issues for the upcoming remedies-related briefing. Torres approved the extension of the XRP lawsuit to allow enough time to resolve disputes between the parties. Lawyers will discuss redaction requirements, though crucial details will remain private.
- While there is a back and forth in the United States, the European Corporate Governance Institute (ECGI) classifies XRP as a utility, similar to Bitcoin.
XRP Price Analysis
XRP/USD is flat and within a tight range in the past week of trading.
In the days ahead, traders can wait for a clean break out before committing.
A close above $0.66 will align with the breakout of March 11, providing the base for further gains.
If not, losses below this week’s lows and the $0.57 to $0.59 zone might see the coin slip to as low as $0.50. This formation will confirm the current double-top formation, evident in the daily chart.
Any XRP upswing above $0.74 will cancel this bearish outlook.
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