Trying to deal with the SEC case, Ripple (XRP) has made its claims through its lawyers in recent developments.
In addition, they opposed the SEC’s security imposition that it did not differ much from the BTC and ETH structure. Leaving aside the mutual friction, the XRP price recovered during the day. For a while, the unstable price movement was supported at $ 0.427, returning to an increase as of last week.
Will the Ascension Continue?
In the short-term movement, XRP gives hopeful indicators for the continuation of the increase. First of all, the uptrend gained pace with the breaking of the $ 0.517 resistance on the 4-hour charts. The increase also jumped towards the overbought signal in the RSI index. It is currently in the serious buying area at 82 levels. It is also in a positive spot above the MACD signal line to support the rise.
CMF data shows a positive movement in demand and is located at 0.15 levels. In addition, the recent spikes have also brought a wealth of transaction volume on the XRP front. At the same time, the asset above the 50-SMA ($ 0.531) will see support at this level as a stepping stone to its rise.
Breaking the bearish momentum that has been effective for a while brings an ongoing upward expectation for investors who expect this increase. Ripple is seeking support at the 1,272 extension level. While testing the $ 0.61 level during the day, it could not see support at this level and had to retreat to its current levels. However, it is very likely that it will go back to the test in the next hours. Breaking this level will aim to increase the 1.618 extension level to $ 0.623. Finally, if the Asset is rejected again, it will risk to pull back to the 78.6% correction point ($ 0.533).