XRP is trading around $0.5244, falling to capitalize on the broader market bull trend.
Analysts note a bullish trend with the ADX indicator suggesting potential for a breakout.
Ripple intensifies its legal challenge against the SEC, appealing the classification of XRP sales as securities.
XRP’s price remained stagnant around $0.50, despite bullish technical indicators and Ripple Labs’ escalating legal fight against the SEC. This contrasts with Bitcoin and Dogecoin, which have surged in the past 24 hours as the overall crypto market turned green.
Specifically, Bitcoin broke above $73,500 today, a seven-month high, with an 8% gain over the past week. Dogecoin also shows strong momentum, with a 23% weekly gain, now trading at $0.172 and approaching its yearly high. Meanwhile, XRP shows negative performance across weekly and monthly timeframes.
However, analysts are closely monitoring the resistance level at $0.60 for XRP, which could signal a significant shift if surpassed. Recent technical indicators on TradingView’s 4-hour chart show a bullish signal, with the Average Directional Index (ADX) reading at approximately 38.44.
This ADX level indicates m…
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