The price on W1 is squeezed within the triangle. Another attempt to retest the resistance zone is being formed. At the moment, the market is restrained from strong growth by the proceedings between the SEC and XRP. Ripple recently announced that they are willing to pay a $10 million fine instead of $2 billion, while two strong lawyers are resigning from the SEC. The upside potential will be a price consolidation above the 0.500 area and on a breakout of 0.73.
Support levels: 0.5000, 0.4226
Resistance levels: 0.6431, 0.7325, 0.8547
If the legal nuances are closed soon, a new bullish time will come for XRP and Ripple will start to conquer new peaks.
Analysis by R. Linda!
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