XRP bears the sub-$0.30 target as SEC v Ripple Court activity picks up

XRPUSD 201222 daily chart

Technical indicators

XRP needs to move through the $0.3415 pivot to target the first major resistance level (R1) at $0.3508 and Monday’s high at $0.35326. A return to $0.35 indicates a bullish session.

In case of an extended rally, the second major resistance level (R2) at $0.3626 and $0.3650 is likely to come into play. The third major resistance level (R3) is located at $0.3836.

Failure to move through the pivot leaves the first major support level (S1) $0.3297 in play. However, barring an extended sell-off, XRP must avoid below $0.3250 and the second major support level (S2) at $0.3204.

The third major support level (S3) is located at $0.2993.

Without updates from the SEC v Ripple case, XRP is likely to be in the hands of the broader crypto market and cryptocurrency news.

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