Long

XRP → Why is Ripple standing still and when to expect growth?

Updated

is underperforming across the board, although fundamentals, are relatively positive. The coin is forming a consolidation. What should we expect from this situation?

XRP is forming a weak, but still bullish trend. On the chart, we see the formation of a sideways movement within a symmetrical triangle. Consolidation inside the ascending price channel.
The price movement is due to the conflict related to the SEC and securities. The crypto community expected the settlement of the conflict or some key news on November 30, but it did not happen. The trial has been postponed to spring 2024, where it is likely to be settled, but there is no clear understanding whose side will win in this situation. If we ignore the SEC, Ripple continues to actively expand and enter into contracts with large companies. Technically, the altcoin market looks very bullish and the more we see the gap between and XRP, the tenser the situation becomes.

Support levels: 0.585, 0.493
Resistance levels: 0.648, 0.7325

Until the issue with the regulation of the dispute between Ripple and SEC is over, the coin will continue trading inside the price channel. We expect the price to decline towards the trend support area followed by a rebound towards 0.7325.

Regards R. Linda!

Note

some breaking news:
- Capital inflows into #XRP +2.7mn accelerated
- Ripple received a license in Ireland
- whales sharply increased XRP purchases over the week
- Binance launches zero commission for #XRP trading

Note

Interesting, but XRP moves in triangles ))

Note

Price is bouncing off trend support. Consolidation continues
Lately, there are many indications that XRP may break local resistance

RLinda

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