XRP Price Could Get A 23% Boost From This Bullish Formation Breakout

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,247,883,045,707	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,247,883,045,707

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	87.04	0.14%	63,498.36	63,497.85	63,498.31

Price Change

Price Change %

Current Price

Bid Price

Offer

87.04

0.14%

63,498.36

63,497.85

63,498.31

High Price	Low Price	Open Price	Prev. Close	52 Week Range
64,333.33	63,327.79	63,472.78	63,411.32	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

64,333.33

63,327.79

63,472.78

63,411.32

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	16:52:31	0.002611	63,496.70	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

16:52:31

0.002611

63,496.70

USD

Price x Volume	Volume	Base Symbol	Related Pairs
212,927,936.57	3,340.80	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

212,927,936.57

3,340.80

XRP Price Could Get A 23% Boost From This Bullish Formation Breakout

05/10/2022 8:15pm

NEWSBTC

XRP is looking good, as Ripple once again scores a procedural victory in its lawsuit battle against the U.S. Securities and Exchange Commission (SEC) that has been ongoing for almost two years now. XRP gains another key victory in its ongoing legal battle with SEC Altcoin is up by 8.5% for the past seven days XRP on its way to the $0.52 resistance level On September 29, a ruling for the release of emails and other correspondence authored by William Hinman, former SEC Corporation Finance Division Director, was ordered by a U.S. District Court Judge. Documents being sought after by the court pertain to a Hinman speech where he stated Ethereum is not a security because it was sufficiently decentralized just like Bitcoin. Ripple, with this development, has put itself in an advantageous position to win the long-running court battle with SEC. It would appear that XPR’s price is set to respond accordingly, as it is pointing towards a bullish momentum. XRP In A Rounding Bottom Pattern In crypto space, the rounding bottom pattern that is being followed by the XRP coin is a bullish reversal model that is normally seen during bearish market bottoms. Related Reading: Chainlink Crosses $6.18 Trillion In Transaction Value – Will This Boost LINK Price? Chart: TradingView.com It usually signals the exhaustion of sellers that follows a downfall and the regaining of trend control by the buyers that usually trigger recovery rally. During the third week of September, probably due to the positive sentiment surrounding the Ripple-SEC legal bout, the 6th largest cryptocurrency by market capitalization made a significant rally on its way to a four-month high when it traded for $0.5523. But such gains were trimmed a bit as XRP, according to Coingecko, is currently changing hands at $0.4881. Still, even with lower price, the altcoin is doing well, tallying 8.5% increase for the past seven days and has been up by 7.1% for the past 24 hours. XRP Taking A Short Break Bitcoin’s tendency to waver at the $18,300 support level is triggering effects on majority of altcoins including the XRP. As for the anticipated bullish rally that comes with the rounding bottom pattern, it can be inferred that the digital asset’s price is taking a short movement break, consolidating at the $0.48 mark at the moment. It will take substantial volume in order for the expected uptrend to commence. If such condition is met, XRP price is seen to grow by 10% and hit the significant resistance level of $0.52. The Ripple-owned token is staring at key resistance levels between $0.52 and $0.58. Meanwhile, traders are also looking at support levels of $0.44 and $0.382 for the digital asset. Related Reading: Tornado Cash Sees Drop In Activity After U.S. Treasury Sanctions – What Now For TORN? XRP total market cap at $23.9 billion on the daily chart | Featured image from Cryptopolitan, Chart: TradingView.com

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