#XRP News Update: SEC Reschedules Closed-Door Meeting, Settlement Prospects Bright
The news of the SEC rescheduling the closed-door meeting boosted buyers' demand for XRP. On Friday, the SEC rescheduled the closed-door meeting on July 18 to July 25. Although the meeting is not open to the public, the market expects the Ripple case to be a focus of discussion.
How did XRP react to the settlement?
On July 13, 2023, XRP surged from $0.4711 to an intraday high of $0.9327 on the impact of the XRP programmatic sales ruling. However, due to the expectation of the SEC's appeal, XRP fell below $0.50 by mid-August.
The settlement may push XRP above $1.00.
On the market: XRP easily broke through the 50-day and 200-day EMAs, and the support of 0.54 was effective again, confirming the bullish price trend.
A move back towards $0.60 could signal a move towards the $0.6609 resistance. A breakout above the $0.6609 resistance could propel XRP bulls towards the $0.70 mark.
Holders should consider headlines related to the SEC and crypto cases.
On the contrary, if XRP fails to hold the $0.57 support, the 200-day EMA could be impacted.
With a 14-day RSI reading of 63.80, XRP is expected to break above the $0.60 mark and then move into the overbought zone.
Traders should remain vigilant as the SEC vs. Ripple case remains a key topic. Stay tuned for our latest updates and analysis to manage your exposure to XRP and the broader crypto market.
