XRP Price Breaks Key Support, Turning to SEC Case for A Lifeline – Crypto News – Crypto News
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Is XRP’s Legal Battle Nearing an End? Is XRP’s Legal Battle Nearing an End?

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XRP Price Breaks Key Support, Turning to SEC Case for A Lifeline – Crypto News

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2 weeks ago

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    Summary:

  • XRP price has dropped significantly but a potential case withdrawal by the SEC is building a bullish undertone that could trigger an upsurge.

XRP price was down on Tuesday, extending a downtrend that started during the weekend. The Ripple-issued coin was down by 2.9% at press time, staying on course to register its second loss-making day in the last four days. Breaking below the $2.30 support is a red flag for the coin’s price trajectory, considering that the last such breakout sent it to year-to-date lows.

The RSI momentum indicator on XRP price daily chart is at 46, adding credence to the downward-facing trajectory. However, the last 24 hours saw the coin’s traded volume decline by 14%, signaling a likely weakening of the downward momentum. However, XRP price will need to reclaim the 20-day Simple Moving Average (SMA) level, currently at $2.32 to build the momentum to sustain the upside.

Despite its recent struggles, XRP price is still up by 11% in the last seven days. However, the prevailing global trade tariff wars have limited the upside for crypto assets across the board. However, XRP could go against the grain if the Securities and Exchange Commission (SEC) settles its case against Ripple Labs in the coming days.

Multiple news outlets reported on Monday and Tuesday that the SEC is believed to be preparing to withdraw its appeal before the April 16 deadline for reply brief filing. If true, the development could inject significant upward thrust on XRP price.

XRP Price Prediction

XRP price pivot is at $2.32 and the downtrend will prevail if resistance stays at that level. The coin will likely find the first support at $2.23, but an extended control by the sellers could push it lower to test the second support at $2.14.

Conversely, moving above $2.32 will shift the momentum to the upside. In that case, the XRPUSD pair is likely to move higher and encounter the first hurdle at $2.42. Breaking above that level will invalidate the downside narrative, and could clear the path to reclaim $2.50.

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