XRP holds its support level firm and strong: What’s next!

XRP holds its support level firm and strong What’s next!

The marketing teams are working hard to renovate the enterprise-grade solution for businesses and other purposes that can rise the price of native coin XRP, which is trading much lower than its all-time high of around $3. Ripple offers faster, scalable, and cost-effective solutions to financial services. In recent developments, it seems like the crypto community is standing in support of Ripple against the SEC, and investors are turning optimistic about the price appreciation of XRP in the long run.

SEC filed a lawsuit against Ripple Lab in December 2020, alleging that they raised funds on unregistered securities using native XRP tokens. It was a violation of the Security Act of 1933. However, Ripple set a precedent that XRP can be classified as a security, not only as a currency, like Bitcoin, which is a valuable digital asset.

After the lawsuit, many crypto exchanges delisted XRP, but many of them are now briefed in support of Ripple against the lawsuit filed by the SEC. Technically it is the right time to invest for the long term.

While writing, XRP was trading at $0.45, which is support for the short term (around the baseline of the Bollinger Bands). Technical indicators are neutral, and Bollinger Bands lack volatility, so we think it is the right moment to invest for the short term in XRP. In June-September, XRP was trading between $0.3 and $0.4, which means it has decisively broken the resistance; now, $0.4 will work as a support for the short term.

On this long-term chart of XRP, candlesticks are forming support in the upper Bollinger Bands that suggest a positive momentum, but the last four weekly candles are red. Most technical indicators are bullish at this time, so you can buy some coins, but if XRP breaks the support, you can still buy some coins for the long term and average your position.

Previous SEC Ex-hinman Has Different Views on XRP Claims Ripple
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