Ripple

Exchanges Want to list XRP, Yet Fear of SEC lawsuit Continue

Highlights

    XRP price trends in the upper levels in the parallel,channel point out a strong consolidation

    Exchanges worry to list XRP, yet look forward into the SEC lawsuit’s outcome

Jesse Powell Cautions Exchanges!

The ongoing SEC-Ripple lawsuit has been in the spotlight in the entire crypto space. Many believed some flaw as the lawsuit was filed amid the XRP bull run. As the SEC filed the lawsuit, the price slashed like never before shedding the maximum of the gains.

Many exchanges announced delisting of the asset fearing any negative rounds around the exchange functioning. In the recent update, SEC’s lawsuit appears to have faded a little with Ripple’s stand becoming stronger and many expect the case may also be closed very soon.

As the XRP price is showcasing some signs of a bull run, now exchanges rethink to list 

XRP, yet fearful with the SEC’s proceedings. Jesse Powell, CEO, and CO-founder of Kraken Exchange cautioned the other exchanges before listing XRP.

XRP Price Analysis

The XRP price since the start of the month has entered a strong consolidation phase, trending in a very narrow range. Yet failed to break the lower resistance levels below $0.4, however also failed to break the upper resistance levels at $0.49.

XRP Price

Interestingly, since the previous trading day, it is trending in the upper levels of the parallel channel, indicating a probable break out any moment from now.

At the time of writing, XRP price is $0.4674 with a jump of more than 1% in the past 24 hours. Currently, it is mandatory to break the upper resistance levels at $0.5 without declining the price below the support levels.

Technical Specification

  • The resistance levels are formed at $0.502
  • The support levels are formed at $0.451 
  • The indicators for XRP price are neutral
Show More

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

Related Articles

Back to top button
Close
Close