• XRP price has been showing signs of weakness, and could potentially pull back if it fails to hold at current levels.
• The Ripple vs SEC lawsuit is gaining traction in crypto space, with speculations around the ruling being a cause of volatility for the token.
• If the bearish pressure intensifies, XRP price could drop 8-15%, reaching targets of $0.426 and $0.392 respectively.
XRP Price Displaying Weakness
XRP price has been largely consolidating within a very narrow range, flashing the possibility of a bearish pullback if failed to hold at these crucial levels. The XRP price had previously been on an upward trend, recording consecutive bullish candles. Nevertheless, it appears that buyers are now displaying weakness at this crucial juncture as volume has dropped significantly while there is potential divergence between the value of the token and its RSI indicator.
Ripple vs SEC Lawsuit
The Ripple vs SEC lawsuit has been gaining more attention in recent times as speculation swirls around the outcome of the ruling which will most likely have an impact on XRP’s volatility and subsequent price movements.
Bearish Pressure Intensifying?
It appears that bears may be outperforming bulls at this point as higher highs are beginning to exhaust buyer strength and bearish divergence is becoming more likely as prices struggle to break past resistance levels such as $0.46. If bearish pressure continues to intensify then XRP’s price could potentially drop 8-15%, reaching targets of $0.426 and $0.392 respectively in what would be a substantial decline from current levels for investors who have held onto their tokens throughout this period of sluggish performance against Bitcoin’s bull run in recent weeks/months .
Impact Of Final Ruling
As mentioned above, any final ruling concerning Ripple vs SEC will undoubtedly have an impact on XRP’s volatility which could lead to either further bullish or bearish momentum depending on how investors react to any news regarding this case specifically or related developments impacting its outcome..
In conclusion, it appears that XRP is currently displaying some signs of weakness ahead of a crucial juncture where some major changes can be expected regarding its performance over coming days/weeks depending upon how investors react to upcoming news announcements surrounding this case specifically or anything else related closely with it..