The XRP price tumbled 2% in the last 24 hours to trade at $0.6106 as of 03:28 a.m. EST on trading volume that surged 30% to $2 billion.
This comes as the US Securities and Exchanges Commission (SEC) prepares to hold a meeting today with Ripple Labs amid speculation of a possible settlement in their legal battle.
With speculation on the outcome remaining positive, the XRP price has been rising steadily in the last two weeks, surging from the $0.4412 support zone, according to data from GeckoTerminal.
XRP Price Aims For A Bullish Rally Over The $0.62 Resistance
XRP Price Chart Analysis Source: GeckoTerminal.com
The XRP price bulls are looking to stage a bullish rally, capitalizing on the ascending triangle pattern.
The price of XRP is still trading above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the bullish rally to the upside.
Moreover, the Relative Strength Index (RSI) drops from the overbought region, currently at 54, as it approaches the 50-midline level.
A sustained bearish trend, and as the RSI shows more sells, the price of XRP may breach the lower boundary of the triangle, with $0.55 acting as the immediate support level and a cushion against downward pressure.
If the results of the SEC closed meeting are positive, the XRP price may push above the upper boundary of the triangle, as the bulls target $0.71. The 50-day SMA also crosses above the 200-day SMA, forming a golden cross at $0.47, further supporting the bullish prospects of the asset.
As the XRP price bulls aim to push the token higher, traders are also rushing to buy WienerAI (WAI), which has less than six days remaining until its presale ends.
A Promising Alternative That’s Raised $7 Million – Best Crypto To Buy Now?
WienerAi is charging into its final six days of presale with more than $7 million raised. The project combines AI and meme coins, two of the hottest themes in crypto.
The soon-to-launch WAI trading bot uses predictive technology and a user-friendly interface, which gives users advice on when to buy and sell crypto.
WienerAI follows in the footsteps of another canine-themed AI token called Scotty the AI (SCOTTY) that raised over $10 million in its presale.
Join the sausage army!! 🌭🌭
We are growing fast 💪 pic.twitter.com/OnfAlIXSyz
— WienerAI (@WienerDogAI) June 9, 2024
The project also allows you to earn passively through its staking function, which provides an annual percentage yield (APY) of 142%.
Crypto Gains, a crypto channel on YouTube with over 135K followers, urges investors to act quickly and secure WienerAI tokens before its presale concludes.
You can be part of the presale by buying WAI tokens for $0.00073 each.
Buy WAI tokens on the official website here using ETH, BNB, USDT, or a bank card.
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