XRP Price Pressure Increases As Investors Wait For The Next SEC Presentation Against Ripple

XRPUSD 171022 Daily Chart

Technical Indicators

XRP needs to break above the $0.4776 pivot to take a boost at the first major resistance (R1) level at $0.4865 and Sunday’s high at $0.48729. SEC v Ripple case updates must be in favor of the defendants in support of a subsidiary hearing.

In the event of an extended rally, the bulls may rush in at the second major resistance level (R2) at $0.4961 and $0.50. The third major resistance level (R3) is located at $0.5146.

Failure to breach the pivot will leave the first major support level (S1) at $0.4680. However, barring an extended sell off, XRP should avoid below $0.4550. The second major support level (S2) at $0.4591 would define the downside. The third major support level (S3) is located at $0.4406.

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