FxWirePro- XRPUSD (Chart of the day)

XRPUSD surged more than 30% on positive developments. It hit a high of  $0.6650 and is currently trading around $0.6500.

Recent Developments-

Ripple is the initial set of partners with Master-card to issue Biometric Cards which can transact CBDC's and Stablecoins globally.

XRP Vs SEC -

A former @SECGov lawyer who recently left the agency tells me the SEC will ‘probably’ appeal Judge Torres’s July 2023 ruling concerning the $XRP programmatic sales in the @Ripple case partly because: “everyone over there [at the SEC] truly believes that the decision is…

— Eleanor Terrett (@EleanorTerrett) September 26, 2024

Horizontal trend line- $0.680

Any daily close below $0.50 confirms further bearishness.

The pair holds above the short-term (34EMA and below 55- EMA) and long-term moving average (200-day EMA) in the 4-hour.

The near-term resistance is around $0.6800, any indicative breach above will take the pair to $0.75/0.820/0.900/$1. On the lower side, immediate support is $0.6000, and any violation below targets $0.5450/$0.50/$0.45/$0.40.

Indicators ( 4- hour chart)

Directional movement index  -Bullish

CCI (50)- Bullish

It is good to buy on dips around $0.6300 with SL around $0.5780 for TP of $0.75/$0.820.