Ripple surged sharply after Ripple won partially in SEC lawsuit. According to CEO of Ripple Brad Garlinghouse
The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that it had overplayed its hand. We respect the Court’s decision and have the clarity to continue growing our company. This is a victory for Ripple, the industry, and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone.
Ichimoku analysis (4- hour chart)
Tenken-Sen- $0.5680
Kijun-Sen- $0.53710
Horizontal trend line- $0.750
Downtrend channel resistance- $0.680
XRPUSD has performed well after a minor weakness.
Any daily close above $0.830 confirms further bullishness.
XRPUSD prices have surged more than 50% in the past three days. It hit a high of $0.64304 and is currently trading around $0.60827
92. The pair holds above the short-term (21 and 55-day EMA) and the long-term moving average (200-day EMA).
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 $0.5750, and any violation below targets $0.53/$0.45/$0.40.
Indicators ( 4- hour chart)
Directional movement index - Neutral
It is good to buy on dips around $0.55 with SL around $0.40 for TP of $1.
