In the wake of the court's favorable verdict for Ripple, XRP witnessed an impressive rally that propelled it above the $0.45 resistance level. Surpassing multiple obstacles near $0.50, this surge in XRP also had a positive impact on the prices of Bitcoin and Ethereum.
Following the court's ruling, Ripple triggered a significant rally for XRP, surpassing the resistance level at $0.45 and overcoming several hurdles near $0.50. Notably, this rally also had a positive impact on the prices of Bitcoin and Ethereum. Moreover, the XRP/USD daily chart exhibited a breakthrough of a major bearish trend line with resistance around $0.50, which paved the way for a robust increase above the $0.65 resistance level. Ultimately, the price surged by over 67% and briefly spiked near the $0.94 level.
On the 4-hour chart, there was a significant price rally in XRP after breaking out of the descending triangle pattern. The cryptocurrency surpassed its yearly high, found support, and continued to rise, surpassing a 19-month-high. However, it encountered resistance near the psychological level of $1.00. Following this, some profit booking occurred, leading to XRP's price trading below $0.8000.
According to Coingabbar Price Analysis, Market capitalization of XRP is around $41,848,966,947. Additionally, the trading volume over the past 24 hours has been approximately $13,922,719,711.
KEY LEVELS :
RESISTANCE LEVEL : $0.8500-$0.9000
SUPPORT LEVEL : $0.7200-$0.6500
Did XRP's price experience a surge following the court victory, and can we expect further gains? Is there a possibility that the rally will continue towards $5? Lastly, what are your thoughts on claims about a "Super Moon rally" for crypto in July? We invite you to share your views in the comment box below.
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
