The price of XRP continues to be strongly supported by the increased optimism of Ripple`s executives about winning the SEC`s dispute. For the last two weeks XRP found strong support at $0.5 level. This was also the level where the coin spent a lot of time in the past, recently, from the end of September till the start of November last year. Certainly, all analysts agree that the final positive court result might skyrocket XRP. What will be the final outcome is about to be seen until the end of this year.
Like the majority of other coins, XRP was moving in a short price range, during the previous week. The price movement ranged from $0.48 up to $0.52 at one moment. XRP is finishing the week by testing the $0.5 support line. RSI took a clear downtrend toward the 50 line, ending the week at the level of 59. The most important chart development for XRP during the previous week was a formation of the so-called Golden cross. This formation implies high potential for the change of trend for the coin, something that many XRP investors are waiting for a long period of time. It will take another week until the cross is confirmed on the charts, but still, up to now, it is highly positive development.
The crypto market is cooling down a bit, however, the price of XRP still remains strongly supported at $0.50. The coin will start the week ahead by testing this level. Currently there are equal buying and selling orders, which might provide some indication that the price could sustain this level in the coming period. There is some probability that the price might head toward $0.55 to test it for one more time, while on the opposite side, there is decreased probability that $0.45 support might be tested in the week ahead.
Like the majority of other coins, XRP was moving in a short price range, during the previous week. The price movement ranged from $0.48 up to $0.52 at one moment. XRP is finishing the week by testing the $0.5 support line. RSI took a clear downtrend toward the 50 line, ending the week at the level of 59. The most important chart development for XRP during the previous week was a formation of the so-called Golden cross. This formation implies high potential for the change of trend for the coin, something that many XRP investors are waiting for a long period of time. It will take another week until the cross is confirmed on the charts, but still, up to now, it is highly positive development.
The crypto market is cooling down a bit, however, the price of XRP still remains strongly supported at $0.50. The coin will start the week ahead by testing this level. Currently there are equal buying and selling orders, which might provide some indication that the price could sustain this level in the coming period. There is some probability that the price might head toward $0.55 to test it for one more time, while on the opposite side, there is decreased probability that $0.45 support might be tested in the week ahead.
