Will Ripple continue to post gains against the SEC?

After suffering a sharp decline, XRP bulls are pushing the asset to a fresh rally even as the overall cryptocurrency market sentiment remains uncertain. Indeed, XRP’s continued rise comes as the token’s parent company, Ripple, continues to post small legal gains.

Will Ripple continue to post gains against the SEC?

Currently, XRP is trading at $0.41 and represents gains of around 8% in the last 24 hours. The gains came after XRP’s ability to gain momentum above $0.41 appeared threatened and the asset hit a weekly low of $0.34.

XRP seven-day price chart. Source: Finbold

At the same time, XRP buyers increased their share of the asset. Notably, the seventh-ranked cryptocurrency by market cap has recorded $20.63 billion in value and $1.46 billion in gains in 24 hours.

Will Ripple continue to post gains against the SEC?  - Picture : 2

XRP one-day market cap chart. Source: CoinMarketCap

XRP price analysis

Meanwhile, XRP’s critical resistance level remains at $0.50, considering the asset was previously rejected in an attempt to sustain gains above the position. If the bulls maintain a position above $0.40, XRP will likely target a new resistance at $0.45 before advancing towards $0.50. However, if the bears outrun the bulls, XRP will likely find more support at $0.35.

Disclaimer: The content on this site should not be considered as investment advice. Investment is speculative. When investing, your capital is at risk.

Source: Teknolojioku Rss by www.teknolojioku.com.

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