Price Analysis

A Massive Jump With XRP Price, Is This An Indication For Ripple vs SEC Settlement?

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Highlights

    Ripple price surged all of a sudden recording huge green candles and on the verge to hit $0.7 very soon

    The price jump was withnessed when the big day for Ripple was underway which sought a settlement

Ripple price rally had climbed the centre stage during the mammoth rally which surged very close to $2. Despite a heavy plunge below $1, the XRP price remained self-assured to regain the lost positions within a short time frame. On the other hand, the Ripple-SEC lawsuit which had drained more than 50% of the price on its kick-off, could probably fuel the bull run when the settlement is underway.

As Coinpedia reported earlier about the ‘Big Day For Ripple’ waiting ahead, the price broke the upper resistance and rallied high. The price remained calm since the early trading hours but broke off in the past couple of minutes. The huge green candles in the 15-min chart may indicate a probable positive announcement for Ripple.

xrppc

The price had gained a negligible jump since the market turned down the bearish divergence. Despite major assets had more than a 10% upswing, XRP maintained a narrow trend. However, it appeared that the price was awaiting a major push to break the strong resistance levels at $0.68. 

The market sentiments also flipped to favourable ones as Ripple Labs announced its very first live on-demand liquidity offering in Japan. And if the lawsuit with SEC also stands in favour of Ripple, XRP price could magnify above $1 incoming couple of hours. Therefore, a substantial surge may be on the cards that may rally the price close to the set target at $10 by 2021. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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