Investors and holders of the XRP are counting time until Ripple wins the dispute with SEC. Namely, as per some indications in the news, it is expected that the final update on the case will be known by the end of March this year. Many followers of Ripple commented on Twitter that they will join the victory dance after the Ripple wins. Considering the importance of this lawsuit for the whole crypto market, it might be expected that many crypto supporters will join the victory dance, if Ripple wins.
In the meantime, XRP had a relatively slower week. The resistance line at $0.40 continued to be tested. During the whole week, the price of XRP moved around this line, from level of $0.38, up to $0.42, where the coin is finishing the week. RSI reached level of 50 , but soon reverted to the up side and level of 60, indicating that investors are still not in mood to move toward the oversold side. Moving averages of 50 and 200 days continue their slow move as two parallel lines.
Daily trading volumes have modestly decreased during the previous week, in which sense, it might be expected from XRP to continue its slow moves, testing $0.40 resistance line. There is still a potential for a short reversal to downside, but only to the levels of $0.37, while the $0.35 support line might be tested but with lower probability.
In the meantime, XRP had a relatively slower week. The resistance line at $0.40 continued to be tested. During the whole week, the price of XRP moved around this line, from level of $0.38, up to $0.42, where the coin is finishing the week. RSI reached level of 50 , but soon reverted to the up side and level of 60, indicating that investors are still not in mood to move toward the oversold side. Moving averages of 50 and 200 days continue their slow move as two parallel lines.
Daily trading volumes have modestly decreased during the previous week, in which sense, it might be expected from XRP to continue its slow moves, testing $0.40 resistance line. There is still a potential for a short reversal to downside, but only to the levels of $0.37, while the $0.35 support line might be tested but with lower probability.
