With a tenuous hold above the $0.5891 support level, the price of Ripple has transformed the 25-day exponential moving average (EMA) into a resistance obstacle at $0.6142.
If the $0.5891 support level is broken, XRP might continue its downward trend, potentially falling by 10% and settling below $0.5751 in the worst-case scenario.
Once the price breaks and closes over $0.6857, which is the mean level for the supply zone, the bearish thesis will be rendered incorrect.
The Ripple (XRP) price is now trading with a negative bias; however, the wheels might turn soon due to speculations that the United States Securities and Exchange Commission (SEC) may be conducting a meeting with Ripple on Thursday, November 30. The meeting is expected to take place behind closed doors. If the prediction turns out to be accurate, the market value of XRP might soon reach $0.7000. This is because there are whispers that a possible settlement negotiation is taking place.
Ripple may reach a solution with the United States Securities and Exchange Commission on November 30.
There have been rumors that the Securities and Exchange Commission (SEC) would be having a meeting behind closed doors on Thursday, which has led to suspicions regarding the possibility of a settlement between Ripple and the federal agency. Due to the fact that neither the topic of the meeting nor the other person who will be attending is currently known, the members of the $XRP community are left to speculate about everything while they watch the clock.
In the event that a resolution is reached, it has the potential to instill hope among holders of XRP, which might lead to a purchasing frenzy. This is because the Ripple community has a tendency to run with positive news, which brings about the cultic following that is distinctive of the Ripple community.
#BullRun #crypto2023
It is therefore feasible that the protracted slump presents a chance to make a purchase in advance of a potential settlement. If the past is any indication, the price of Ripple might increase by ten to thirty percent, which would be comparable to the situation that occurred when Judge Analisa Torres decided that XRP was only considered a security once it was sold to institutional investors.
In the meanwhile, investors are still recalling the day on September 4 when Ripple's Chief Technology Officer, Stuart Alderoty, expressed his opinion that XRP would one day become the reserve currency of the world. As far as he is concerned, a significant portion of the global population would be OK with a currency that is not under anyone's control serving as the reserve currency of the globe.

As Morgan absolves selling for depressing the price of Ripple, the perspective on the price of #XRPUpdate
In spite of the fact that the price of #Ripple (XRP) has decreased by 1% and the trading volume has decreased by 2% over the past twenty-four hours, members of the community continue to be prepared to ride the wave of a bullish development in the ecosystem. The position of the Relative Strength Index (RSI) has been hanging just around the 50 level for days on end, indicating indecision. This is an indication of the fact that this trend is occurring.
For the time being, the price is stuck between the Exponential Moving Averages (EMA) for the 25th and 50th days, which are located at $0.6142 and $0.5967, respectively. It is possible that the next directional bias will be determined by a breakthrough from this consolidation zone happening in either direction.

It is necessary for the price of Ripple to enter the supply zone that extends from $0.6582 to $0.7186, while also breaking and closing above its midline at $0.6857, in order to establish a definite uptrend. Taking such a step would establish the conditions necessary for XRP to reach the psychological level of $0.7000.