XRP price is gaining pace above the $0.50 resistance against the US Dollar. The SEC’s case against Ripple’s executives was dropped, sparking bullish moves.
The price started a strong increase above the $0.50 resistance.The price is now trading above $0.505 and the 100 simple moving average (4 hours).There was a break above a major bearish trend line with resistance near $0.4885 on the 4-hour chart of the XRP/USD pair (data source from Kraken).The pair might correct lower, but the bulls could remain active near $0.50.
XRP Price Jumps 10%
After forming a base above the $0.480 level, XRP started a fresh increase. Recently, the SEC dropped its case against Ripple’s executives. It sparked a sharp increase in XRP above the $0.50 resistance.
There was a break above a major bearish trend line with resistance near $0.4885 on the 4-hour chart of the XRP/USD pair. The pair even broke the 50% Fib retracement level of the key decline from the $0.5510 swing high to the $0.4730 low.
XRP price is now trading above $0.505 and the 100 simple moving average (4 hours). It is also helping Bitcoin, Ethereum, Solana, and other cryptocurrencies in moving higher.
On the upside, immediate resistance is near the $0.524 level or the 61.8% Fib retracement level of the key decline from the $0.5510 swing high to the $0.4730 low. The first major resistance is near the $0.532 level. A close above the $0.532 level could send the price toward the $0.550 resistance.

If the bulls remain in action above the $0.550 resistance level, there could be a drift toward the $0.565 resistance. Any more gains might send XRP toward the $0.585 resistance.
Are Dips Limited?
If XRP fails to clear the $0.524 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.512 zone.
The next major support is at $0.505. If there is a downside break and a close below the $0.505 level, the price might accelerate lower. In the stated case, the price could retest the $0.4850 support zone.
Technical Indicators
4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone.
4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – $0.512, $0.505, and $0.485.
Major Resistance Levels – $0.524, $0.532, and $0.550.
$XRP #xrp

On Thursday, XRP logged its best daily percentage gain in three months as the U.S. Securities and Exchange Commission (SEC) dropped securities-violations charges against fintech company Ripple’s top leaders.

XRP, the world’s fifth-largest digital asset, rose 6.5% to 52 cents jumping to a high of 53 cents before pulling back to 51 cents at press time, CoinDesk data shows.

In a court filing on Thursday, the SEC agreed to dismiss allegations against Ripple Chief Executive Brad Garlinghouse and co-founder Chris Larsen. The move comes months after the Southern District of New York said Ripple’s offer and sale of XRP on digital asset exchanges did not amount to offers and sales of investment contracts as alleged by the SEC.

Roughly three years ago, the SEC accused Ripple Labs, which has close ties with XRP, of violating securities laws by raising $1.3 billion through XRP sales to investors. The legal trouble kept XRP under pressure, even as the broader market surged.

Spot-led move

Buyers from the spot market likely powered Thursday’s rally in XRP. Spot-driven rallies are said to be more sustainable than those led by leverage traders.

Data from Coinalyze shows that cumulative volume delta (CVD) in spot exchanges rose along with XRP’s price, indicating net inflow into the market. Meanwhile, CVD in stablecoin and coin-margined futures markets remained flat.

A rising CVD means more buyers are in action, while a negative-sloping line implies there are more sellers.

Range breakout pending

Though impressive, Thursday’s gain fell short of ending a two-month price consolidation between 49 and 45 cents.

Range play, representing volatility meltdown, often paves the way for a big move in either direction. The logic here is that the market builds energy during consolidation, which is then unleashed in the direction where the range is eventually breached.

The #Pepe price (PEPE) has had a decline of 4.49% throughout the past 24 hours, resulting in its current market value of $0.000000636.
The Pepe #cryptocurrency price undergoes a stabilisation phase spanning more than 40 intraday sessions, with fluctuations ranging between 20% and 25%.
The number three. The price of the PEPE cryptocurrency is now trading below the significant 50-day and 200-day exponential moving averages, suggesting a pessimistic market sentiment.
The Pepe cryptocurrency price saw a period of consolidation lasting over 40 trading sessions in close proximity to its most recent low point. The cryptocurrency price has exhibited a fluctuation within a range of 20 to 25%, with neither the bullish nor bearish sentiment prevailing in the overall trend.
In recent times, the bears have exerted downward pressure on the price, causing it to reach the lower range of consolidation. This suggests that negative momentum has been prevalent in both previous sessions and the intraday session, with the cryptocurrency price seeing a decline of more than 4.49%.
Furthermore, an examination of the price chart analysis conducted on a daily timescale reveals that the price of Pepe has consistently adhered below the 50-day Exponential Moving Average (EMA) subsequent to its decline below said average. The cryptocurrency remains positioned at the lower limit of its range and may exhibit a decline if the prevailing selling pressure persists.
According to the volume research, the trading volume of Pepe cryptocurrency has reached $46.693 million throughout the last 24-hour period, indicating a 22.17% increase compared to the preceding day. The PEPE cryptocurrency now possesses a market capitalization of $249.058 million, positioning it at the 104th place within the cryptocurrency market. The ratio of volume to market capitalization is at 18.46%, suggesting a notable level of market volatility.
The Pepe price may potentially demonstrate a breakdown of the consolidation.
The price pattern of Pepe cryptocurrency appears to be negative, exhibiting a short-term dominance and maybe indicating an imminent breakdown. The potential decline subsequent to the consolidation phase has the potential to exert downward pressure on the price, potentially leading it towards the lower support levels.
Furthermore, it is imperative for the bulls to amass at the lower levels and propel the price upwards, so beyond the established range, in order to effectively alter the prevailing trend in their favour. Nevertheless, a greater number of purchasers must engage in the market and exceed the 50-day Exponential Moving Average (EMA).
The current market conditions are characterised by technical indicators that suggest a lack of clear direction or a state of indecision.
The source of the data is the $PEPE /USD exchange rate. The use of TradingView platform is observed.

At the time of publication, the Relative Strength Index (RSI) lines exhibit a recurring occurrence of the Simple Moving Average (SMA) line crossing over, which suggests a state of indecisiveness in the current trend. The Moving Average Convergence Divergence (MACD) lines indicate a mood that ranges from neutral to negative in relation to the price.

The study of the Exponential Moving Average (EMA) indicates that the price of PEPE has consistently adhered to the 50-day EMA, but has had a downward trend and encountered resistance at this level. The EMA is functioning as a dynamic level of resistance for the price. In order to establish a new trend, it is important for the bulls to exceed the 50-day Exponential Moving Average (EMA).