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The XRP<\/a> price saw a boost at October’s start after a federal judge rejected the U.S. Securities and Exchange Commission’s request to appeal its landmark setback against Ripple.<\/p>\n XRP experienced a surge following the court verdict, reaching a high of $0.548 on Oct. 3. It has since erased those gains, falling 6.95% in October.<\/p>\n Bulls attempted to stem the bearish tide as institutional investors put funds into the asset. In the past week, asset manager CoinShares has observed an influx of institutional investment into the cryptocurrency market.<\/p>\n For the past 25 weeks, XRP has attracted inflows, demonstrating investor interest in the crypto asset.<\/p>\n Given this, XRP saw a rebound in the past week, with four consecutive days of bullish price movement culminating in highs of $0.51 on Oct. 16. However, bulls were unable to sustain the trend, and XRP started dipping once again.<\/p>\n If XRP closes in the red today, it will be the third straight day of losses. According to CoinMarketCap <\/a>data, XRP was selling for $0.4799 at the time of writing. In the last 24 hours<\/a>, the value dropped by 2%.<\/p>\n For the previous few days, XRP has been trapped in a broad range between $0.41 and $0.56. On the upside, bulls will encounter immediate resistance at the daily MA 50, which coincides with the $0.503 level.<\/p>\nWhat might come next?<\/h2>\n
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