XRP Price Prediction as $1 Billion Pushes XRP Above $0.50 Resistance – Here's the Next Level to Watch
The XRP price has dipped by 2% in the past 24 hours, sliding back down to $0.522666 after rising in the wake of a federal court's denial of the SEC's motion to appeal the July ruling in its case with Ripple.
XRP is now up by 4.5% in the past week and by 4% in the last 30 days, with the altcoin also having risen by 54% since the beginning of the year.
This week's denial of the SEC potential appeal has left XRP in a strong position, solidifying the positive sentiment that emerged when Judge Analisa Torres ruled in July that the token is not, in and of itself, a security.
And with the market also showing some signs of recovery earlier this week, XRP could be in for some big gains in the near future.
XRP's chart is in a mixed position, with its technical indicators neither particularly or particularly weak.
On the one hand, XRP's 30-day moving average (yellow) is still substantially below its 200-day average (blue), indicating that the coin remains oversold and so – in theory – should bounce back soon.
On the other hand, the coin's relative strength index (purple) is sinking down from 60, and could either fall further or resume rising again soon enough.
Weighing in favor of a more positive conclusion is the fact that XRP's support level (green) has risen steadily in the past few weeks, implying that the altcoin won't be falling much further anytime soon.
It will, therefore be highly instructive to see whether XRP can resist a drop below its current support of around $0.51: if it can avoid such a fate, it may resume bouncing back soon enough.
Either way, XRP's fundamentals received some much-appreciated reinforcement this week when Judge Analisa Torres denied the SEC's application for an appeal on certain aspects of her ruling from
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