Is XRP Preparing For Massive Gains? Bullish Divergence Prints Amid Settlement Hopes

XRP is trending higher at spot rates, following Bitcoin and Ethereum. Even though sentiment is neutral but with a bearish leaning, the consistent rejection of any low, breaking $0.50, is welcomed. Thus far, bulls are back in the equation, bouncing higher and currently inside the ascending wedge. The series of higher highs could signal what traders should expect in the coming few trading days.

As XRP trends above $0.50, there have been no sizeable gains in the past trading day. Bulls are confident, but that needs to translate to worthy price expansions above the local liquidation lines. In the past day and week, prices remain stable, with trading volume rising marginally to over $1.2 billion.

As bulls wait expectantly, the following XRP and Ripple news are worth tracking today:

• The Ripple versus the United States SEC case will likely end this summer. Brad Garlinghouse said the regulator will not receive the $2 billion fine. Instead, the penalty will be in millions. The settlement will greatly relieve the payments company and coin holders.
• One analyst thinks XRP could tear higher, considering the current bullish formation printing out in the weekly chart. There is a mega-bullish divergence formation in progress. Therefore, if buyers have their way, the coin could surge, mirroring the events of the last bull market.

XRP Price Analysis

XRP/USD is moving in a nearly straight line, sideways.

Even though holders have confidence, bulls must break above $0.55 and the ascending triangle for a chance.

If not, the odds of XRP crumbling as it did in mid-April remain high.

Today, traders should closely watch $0.55 and $0.46.

A breakout in any direction will shape the short-term trajectory.