XRP’s price remains volatile, influenced by Ripple’s ongoing legal battle with the SEC.
Breaking key resistance at $0.70 could boost XRP, while $0.5210 support is currently tested.
Ripple’s legal outcome and new custody features will shape XRP’s long-term price movement.
XRP’s journey has been a wild ride since December 2020, when Ripple first locked horns with the US SEC. The ongoing lawsuit, which seeks to determine whether XRP is a security, has kept the altcoin on a rollercoaster. The case’s outcome could significantly impact XRP’s price in the near future.
XRP hit its all-time high of $3.92 on January 4, 2018, and its all-time low of $0.002802 on July 7, 2014. Since reaching its peak, XRP has gone through several bearish phases, dropping as low as $0.113268 while also climbing as high as $1.97793.
At the moment the general sentiment towards XRP is bearish. The Fear & Greed Index is currently at 52, thus, pointing at a neutral market sentiment. However, the technical outlook for XRP hints at a possible bullish breakout if certain price levels are crossed.
Key Resistance Levels and Technical Outlook
XRP is presently trading around $0.5329, w…
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