XRP price recovers above $0.44 as court ruling approaches, will Ripple win against the SEC?


  • Ripple price is trading with a bullish bias as ruling on the SEC case approaches.
  • XRP has broken out of a triangle pattern, soaring 4% while eyeing the $0.480 resistance level.
  • A daily candlestick close below the $0.443 level would invalidate the bullish thesis.

XRP price has kept its momentum, flashing green on the one-day timeframe as the countdown to the Ripple vs SEC lawsuit continues. The remittance token is moving in tandem with our prediction last week, soaring by a significant margin to secure a place among the best-performing cryptocurrencies on a one-week timeframe.

XRP price breaks out of the triangle pattern

XRP price has soared almost 20% in the last seven days, a move hugely attributed to intensifying chatter around Ripple winning the case against the Securities and Exchange Commission (SEC).

Based on speculation by Crypto Twitter, the court will pass its ruling soon, with all signs pointing to a landmark win for Ripple. Such an outcome would provide clarity for the entire crypto space, and cause a pump in XRP price. John Deaton, a US attorney, has hinted at the same outcome in his latest Twitter post, saying “XRP has the most attractive risk/reward ratio IMO.”

As a result of the positive chatter, XRP price has escaped from a multi-month triangle, leading the remittance token to reclaim the $0.443 resistance level. An increase in buyer momentum above the latter could see the altcoin shatter past the immediate roadblock at $0.480 to reclaim levels last seen around November 2022, before Sam Bankman-Fried’s crypto empire collapsed.

Further north, XRP price could stretch a leg up to confront the next obstacle at the $0.506 resistance level before tagging the $0.533 barrier in highly bullish cases. Such a move would constitute a 15% increase from current price.

XRP/USDT 1-day chart

Moreover, the Relative Strength Index (RSI) was moving upwards with a price strength of 63. Besides indicating that there was still more room upward, it showed more buyers were buying the token. 

Conversely, if profit taking sets in, XRP price could descend, falling back below the descending trendline and resuming the southbound move. A daily candlestick close below the downtrend line at $0.443 could invalidate the bullish thesis.

Such a trajectory could see the XRP price revisit the Exponential Moving Averages, starting with the 200-, 100-, then 50-day EMA at $0.407, $0.395, and $0.392 respectively.

In dire cases, XRP price could move lower to retest the March 21 lows around the $0.392 support level. 

The Relative Strength Index (RSI) was moving upwards with a price strength of 63. Besides indicating that there was still more room upward, it showed more traders were buying the token. 

Santiment data confirms the bullish case for XRP price

Santiment data has confirmed the positive thesis for XRP price, revealing that the supply of XRP held by addresses with a balance between 10 million and 100 million tokens has risen by over 4% since March 22 (blue). Similarly, the supply of addresses with a balance between one million and 10 million tokens has increased by 1% since March 25 (red).

That shows the XRP whales are stacking up more tokens as the countdown to the court’s decision on SEC vs Ripple's so-called summary judgment narrows.

Conversely, if profit taking sets in, XRP price could descend, falling back below the descending trendline and resuming the southbound move. A daily candlestick close below the downtrend line at $0.443 could invalidate the bullish thesis.

Such a trajectory could see the XRP price revisit the Exponential Moving Averages, starting with the 200-, 100-, then 50-day EMA at $0.407, $0.395, and $0.392 respectively.

In dire cases, XRP price could move lower to retest the March 21 lows around the $0.392 support level. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch

Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch

Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.

More Bitcoin News
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers

Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers

Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins. 

More Bitcoin News
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction

Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction

Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.

More Solana News
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs

SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs

The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.

More Cryptocurrencies News
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP