XRP price rallies Ripple settles with the S.E.C
XRP price rallies Ripple settles with the S.E.C
Xrp price rallies by 17% in the past few hours.
Xrp price increased by 17% aft the court case with Ripple and the Securities and Exchange Commission. The Judge ruled that Ripple should pay $125 million dollars and imposed an injunction on the Securities and Exchange Commission to prevent them from further legal action against Ripple.
The market reacted to this positive news with the price of Xrp rising to 65 cents with $6 million in short liquidations. This led to Xrp being the only crypto in the green during the Asian session whiles others traded flat.
The positive news about Ripple case with the Securities and Exchange Commission has led to Ripple trending on X with traders posting in excitement with memes and about how the Ripple court case settlement being bullish.
Ripple win has led X user JackTheRipper to post that the win for Xrp will lead to banks adopting Ripple for payments with at least 6 banks confirm partnership based on 2022 data.
Another post from JackTheRipper shows how bullish Xrp is due to Xrp price crossing above the 200 day moving average and price has also broken above the trendline and all these technical indicators are bullish.
Xrp on the 4 hour timeframe is bullish with the price closed above the cloud, the future cloud is green which is bullish and the conversion line is above the base line also another bullish indicator and all thats left is for the lagging span to cross above the cloud and price will take off.
On the 1 day timeframe the price is above the cloud and all the cloud components are all bullish.
On the 1 day timeframe the price is above the cloud and all the cloud components are all bullish.
The price of Xrp on the 1 Week timeframe is currently below the cloud and could possible break out to the upside in the near future.