XRP, which showed great interest by crypto money investors, started the day with an increase of about 30 percent and reached the level of $ 0.559.
The Ripple side announced that the litigation processes with the SEC for a long time came to an end. According to the social media posts that fell on the agenda, it was claimed that both parties requested a summary decision to conclude the case. It has been claimed that this decision was behind the bull run of XRP by exceeding the resistance levels.
Is the Tough Process Ending for XRP? Why Is XRP Rising?
The lawsuit between Ripple and the SEC is expected to end in about 2 years. The trending cryptocurrency of recent times, XRP, claimed that they will win the case. After these developments, it managed to attract the intense interest of crypto money investors. XRP, which has been in an upward trend since September 16, continues to give confidence in the crypto markets.
The market value of the company, which competes with major cryptocurrencies such as Bitcoin and Ethereum, is increasing day by day. According to data from crypto markets analysis service provider CoinMarketCap, XRP ranks 6th among the strongest cryptocurrencies with its latest rise.
XRP Chart Analysis, Will XRP Continue to Rise?
According to the analysis of Cryptopolitan, it was XRP that bulls showed great interest. In its analysis published recently, the organization claimed that the resistance point that must be broken for the bull run is $ 0.4339. Passing today with buying pressure, XRP quickly overcame the resistance levels and made its bull run.
Rising with the effect of positive news recently, XRP maintains its support levels. Cryptopolitan stated that the support level for Ripple is $ 0.388. Ripple, which has been on the rise today, has moved away from the bearish trend supports.
XRP, which is the focus of intense interest in social media, maintains its price stability with the intense buying pressure. It was claimed that strong wallets called whales made large purchases, thinking that the outcome of the case would be positive. Investors’ anticipation of an XRP rally after the lawsuit causes the price to start a bull run.
Ripple has yet to approach one of the strongest resistance levels, the $0.70 channel. Stating that the price chart is progressing well, analysts claimed that it will reach 0.70 resistance, even though there are corrections on the chart.
Investors, who expect it to touch around $0.58, as the close resistance point, also claim that they will not be able to break the $0.4739 support if there is a correction.
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