The crypto money market is going through very active times due to both macroeconomic developments and pressure on the sector. XRP price had recently raised hopes, marking 2021 highs. The resulting upward movement is Ripple With the on-going decision between the SEC and the SEC, it can reach its final destination.
XRP price It gained more than 10% on the last trading day, bringing its total earnings this month to over 40%. The broader market has also seen a strong rise this month, as the token stands out as the top-performing asset. The biggest reason for the rise is the belief that the case against the SEC will be won. If the victory really comes, it will even be possible to exceed the $1 levels.
XRP price recovered from the main support levels at $0.41 and after a minor consolidation, the price rallied above $0.51. The token is currently trading around $0.544. The RSI has touched the overbought levels and hence the possibility of a minor pullback.
Meanwhile, ADX, which determined the strength of the rally, is also bullish, showing that the price will withstand a minor bearish move and quickly rise to reach the key $0.6541 resistance.
The price fluctuation experienced increased the commercial profit taking rate. Popular on-chain analytics platform centimentAccording to , the rate has risen to the highest levels previously recorded in August 2021. The most important catalyst for the start of the XRP bull run is the decision of the Ripple vs SEC lawsuit.
You can follow the current price action here.