Ripple Close to a Victory Against SEC-Will XRP Price React or Remain Unstirred?
XRP price continues to consolidate within the same unaltered resistance zone, displaying the possibility of a bearish divergence during the weekend
While the XRPArmy and Ripple are preparing to rejoice in the historical win, the sluggish XRP price movement may be a huge matter of concern for the investors
As the climax of the Ripple vs SEC lawsuit is looming around, the XRPArmy is expected to a massive green candle to occur in the daily XRP chart. However, considering the current trade set-up, it appears that the top crypto is preparing to undergo a bearish divergence as an outcome of rejection from the crucial levels during the coming weekend.
The lawsuit is speculated to have been approaching its end and the XRP price is currently under the huge influence of the bears. The price has reached the lower support of the curial price zone and may display an inverse action any moment from now. Moreover, the volatility appears to have slowly slashed and hence the price may experience a notable compressed pressure in the coming days.
The XRP price currently is on the verge to face a notable rejection from the crucial price zone and continue its journey within the descending triangle. The rejection may eventually result in the price slashing close to the lower support below $0.35 which may further trigger a notable rebound. In the meantime, the Ripple vs SEC lawsuit judgment which is expected to roll out in the next couple of months may bring back the value to its initial position above $0.4.
On the contrary, if the bulls are able to mitigate the compression that is materializing in the daily chart, then a positive outcome may uplift the price beyond $0.45. As the price is about to test the 20-day SMA which is the middle range of the Bollinger Bands, a rebound could be sparked. However, failing to hold these levels may invite a downswing which appears unlikely considering the present trade setup. Therefore, the upcoming weekend could be extremely crucial that may determine the upcoming trend.