XRP prices are consolidating sideways, looking at the price action in the daily chart. In the short term, buyers have the upper hand, rejecting attempts by sellers to drive prices down. The bullish bar of March 11 still defines the current formation, considering that prices are still inside its range.

At press time, XRP is relatively stable. Reflecting the general mood across the market, the coin is moving inside a narrow range after the expansion over the week. It is changing hands at around $0.63, up 3% in the previous week. At the same time, trading volume is up 4% to around $1.2 billion, a contraction from recent average of around $2 billion. As prices cool off in the London session, its market cap is stable at around $34 billion.

Traders can watch out for the following XRP news:

• Ripple is keen on building a vibrant DeFi environment on the XRPL. However, following a recent technical setback, users were asked not to deposit funds to affected automated market maker (AMM) pools. Meanwhile, those who supplied liquidity were asked to redeem until the issue is fixed.
• The United States SEC will submit a redacted version of the remedy-related brief on March 26. Investors expect the regulator to argue that Ripple should be fined for selling unregistered securities to institutions in its ICO.

XRP Price Analysis

XRP/USD is moving sideways at the back of dropping trading volume, signaling decreasing interest.

Even so, fundamental events, especially how the Ripple-SEC case proceeds, will impact price action.

Traders are looking for movements above $0.66 or $0.59.

A break in either direction will shape the short to medium-price action.

Losses below the primary support at $0.59 validate the double top recorded when prices rallied on March 11. Conversely, expansion above $0.66 with rising trading volume might see XRP rally to $0.74 in a buy trend continuation formation.