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Ripple Versus SEC Case In Focus, But What’s Next For XRP?

XRP prices stabilized on April 25, boxing prices back into Monday’s range. Although prices edged lower, buyers, from price action, are still in charge. From buying pressure during the NY session to the rejection of prices above $0.522, prices could expand in the coming days. Still, for a clear breakout, confirming earlier gains, traders are watching for a clean break above April 22 highs at $0.57 before loading the dips. In that event, XRP may have the legs to rally above March highs in the coming months.

For now, XRP is moving sideways, stable on the last day but up 6% in the previous trading week. At the same time, participation is decent, at $1.3 billion. Although lower than last month’s average, it is higher than last week’s, a positive development. Going forward, expanding prices will likely draw in more traders, propping up the coin.

XRP Daily Chart for April 26

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The following Ripple and XRP news are headline-making:

  • In the ongoing case, the court, on April 25, said it would be addressing Ripple’s objection to the United States SEC’s newly submitted expert materials. The scheduling order will likely set deadlines for both parties to argue their positions ahead of the ruling.
  • The presiding Magistrate in the ongoing case, Sarah Netburn, has also been nominated as the District Judge at the Southern District of New York. Crypto supporters say this nomination is huge since she understands crypto nuances.

XRP Price Analysis

XRP/USD was moving lower in the first half of the week before bears found rejection yesterday.

While positive, the bar is narrow and still inside the April 24 bear zone.

Technically, this is bullish for XRP since prices are trending higher, following the surge on April 20 and the confirmation on Monday.

Aggressive traders might see this as an opportunity to double down.

However, risk-averse traders might see better entries above the middle BB and $0.55.

If that happens today, XRP could soar to $0.60.

On the flip side, any dump below $0.50 is bearish.

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ABOUT THE AUTHOR See More
Dalmas Ngetich
Dalmas Ngetich
Technical Analyst and News Reporter
Dalmas is a technical analyst and news reporter covering Forex, commodities, crypto, NFTs, blockchain, DeFi, and blockchain.
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