Major resistance $2.65
Ripple and the SEC have struck a deal, pending judicial approval, that sees Ripple pay a $50 million fine, escrowed funds of $75 million repaid to it, and operating restrictions removed, although the deal is contested within the SEC by Commissioner Caroline Crenshaw, who believes it undermines enforcement in the future and the court's authority.
Resistance and Support Analysis
The immediate resistance level for XRP is around $2.65, and a breakout above this level will push prices higher to $2.80/$3/$3.40/$4. Any breach above $4 confirms further bullishness, a jump to $5. On the downside, immediate support lies at $2 any break below targets $1.89/$1.60, $1.27, $1.00, $0.85, and $0.74.
CCI(50)- Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around $2.50 with SL around $2 with SL around $3.40/$4.
