How Has The Technical Outlook Shaped With The Latest Developments In The Ripple (XRP) Case?

Looking at the recent developments in the protracted Ripple (XRP) and SEC case, the SEC expressed its desire to prepare a 90-page response summary to exclude the statements of 10 Ripple experts.

The development was shared on Twitter by attorney James K. Filan, a former US federal prosecutor. With the latest developments, it is still seen that the litigation period is getting longer.

#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed a request to file one omnibus (big) reply, up to 90 pages in length, in further support of its Motion to Exclude the Testimony of Defendants’ Expert Witnesses. pic.twitter.com/BBFa6mITSM

— James K. Filan 🇺🇸🇮🇪 110k (beware of imposters) (@FilanLaw) August 24, 2022

When we examine it technically, XRP, which has lost approximately 9% value by breaking the $0.3643 support, which corresponds to the lower base level of the triangle structure that has formed since July 30, held on at the support of $ 0.3361.

After continuing its sideways movement after the decline, a rise is seen towards the $0.36 resistance.

At the same time, the price is moving below the DEMA 150 and 200-day moving averages and it is seen that the trend direction has not changed in 4 hours yet.

The closest support level is $0.3361. In the good scenario, the price to follow will be 0.4016 and the important three-day resistance level will be 0.4099, with the break of this zone, which coincides with both the 4h +day resistance level of 0.3819 and 0.3880, and the horizontal resistance level.

Otherwise, the important resistance level of $0.3643 cannot be broken and the $0.3362 level is lost by the buyers, and the 4h+day support level will become $0.3139, which will gain importance.

On the other hand, it will be important for XRP investors to follow the developments in the technical outlook in parallel with the developments in the litigation process.