Cryptocurrency

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 <p class="paragraph">The value of XRP continues to trade in tandem with the broader cryptocurrency market, but the digital asset stands out as a focal point due to ongoing developments surrounding the Securities and Exchange Commission’s (SEC) case against Ripple.&nbsp;</p>
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 <p class="paragraph">While the legal proceedings have partly catalyzed previous rallies in XRP, analysts are now focusing on the token’s historical correlation with Bitcoin (BTC), deeming it a noteworthy factor to monitor for a potential <a rel="noopener noreferrer nofollow" title="breakout" href="https://thebittimes.com/tag/breakout.html">breakout</a>.</p>
 <p class="paragraph">Particularly, crypto analyst <em>Cryptoinsightuk</em>, in an X (formerly Twitter) post on November 10, pointed to a compelling narrative for XRP’s potential breakthrough, drawing attention to its historical lag behind Bitcoin price action.&nbsp;</p>
 <p class="paragraph">According to <em>Cryptoinsightuk</em>, there’s a discernible pattern where XRP breakouts gradually align with the maiden cryptocurrency’s movements.</p>
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 <p class="paragraph">The <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> highlights two key instances: the initial <a rel="noopener noreferrer nofollow" title="breakout" href="https://thebittimes.com/tag/breakout.html">breakout</a>, which took 22 days, and the subsequent pump, which condensed the timeline to 13 days. Extrapolating this trend suggests a prospective <a rel="noopener noreferrer nofollow" title="breakout" href="https://thebittimes.com/tag/breakout.html">breakout</a> date of November 15, a date likely to act as a turning point for XRP.&nbsp;</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/OsoA9wVlYyDLX3kkanWivxCv1KzFyjEznV6ZDyuuCzSPjabbnQ2cR3UhKlo1ZYAcOjM3NaGDXTz62ULcySgTFuKHf5CnPehFXC-xPv0WnRyVAzoaPwOVmYGIDz78BDoYUHss9Ngl_F7lv2QSUu20eAjsGsTVbWcoV2lpLqifyXsnYYu25m2LdiuUeEELhQ" alt>
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 <p class="paragraph">Adding another layer to the <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, the four-hour timeframe reveals that XRP has had the opportunity to cool off, prompting questions about whether a reversal to the upside is imminent.&nbsp;</p>
 <h2 class="wp-block-heading" id="h-sec-vs-ripple">SEC vs. Ripple</h2>
 <p class="paragraph">Despite the exhilarating prospects painted by the technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, there is <a rel="noopener noreferrer nofollow" title="lingering" href="https://thebittimes.com/tag/lingering.html">lingering</a> caution. The regulatory overhang, particularly the impending close of the SEC and blockchain company case.&nbsp;</p>
 <p class="paragraph">Notably, after Ripple’s court victory against the SEC, where Judge Analisa Torres ruled that retail XRP sales weren’t securities sales, both parties submitted to her an agreed-upon 90-day schedule for settlement discussions.&nbsp;</p>
 <p class="paragraph">As reported by Finbold, Ripple consented to the SEC’s proposed timeline for remedies-related discovery, with the condition that it is confined to the period preceding the lawsuit.</p>
 <p class="paragraph">The regulator suggested 90 days for remedies-related discovery, beginning with the court’s scheduling order. The SEC aims to introduce post-complaint evidence for injunctive and monetary claims, but Ripple retains the right to oppose. If allowed, Ripple would need court permission to extend the discovery deadline.</p>
 <p class="paragraph">Following the conclusion of the court case, the outstanding issue revolves around determining the damages Ripple must pay, as the judge ruled that XRP sales to institutional investors, unlike retail buyers, constituted securities sales.</p>
 <h2 class="wp-block-heading" id="xrp-price-analysis">XRP price analysis</h2>
 <p class="paragraph">XRP was valued at $0.66 by press time, reflecting daily gains of over 1%. On the weekly chart, XRP shows an impressive increase of nearly 7%.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/11/11/1a1adb4a2d1a2a17e6ee5844b2cf667a.webp" alt class="wp-image-136906" srcset="https://cdn.thebittimes.com/images/2023/11/11/1a1adb4a2d1a2a17e6ee5844b2cf667a.webp 1024w, https://cdn.thebittimes.com/images/2023/11/11/1a1adb4a2d1a2a17e6ee5844b2cf667a.webp 300w, https://cdn.thebittimes.com/images/2023/11/11/1a1adb4a2d1a2a17e6ee5844b2cf667a.webp 768w, https://cdn.thebittimes.com/images/2023/11/11/1a1adb4a2d1a2a17e6ee5844b2cf667a.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>XRP seven-day price chart. Source: Finbold</em>
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 <p class="paragraph">In terms of technical analysis, bullish sentiments dominate XRP. One-day indicators from TradingView suggest a ‘buy’ sentiment at 15, with moving averages signaling a ‘strong buy’ at 13. Oscillators are neutral at 8.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="209" src="https://cdn.thebittimes.com/images/2023/11/11/24e98dc0ccc60608b090fd3ed9d12c98.webp" alt class="wp-image-136905" srcset="https://cdn.thebittimes.com/images/2023/11/11/24e98dc0ccc60608b090fd3ed9d12c98.webp 1024w, https://cdn.thebittimes.com/images/2023/11/11/24e98dc0ccc60608b090fd3ed9d12c98.webp 300w, https://cdn.thebittimes.com/images/2023/11/11/24e98dc0ccc60608b090fd3ed9d12c98.webp 768w, https://cdn.thebittimes.com/images/2023/11/11/24e98dc0ccc60608b090fd3ed9d12c98.webp 1536w, https://cdn.thebittimes.com/images/2023/11/11/24e98dc0ccc60608b090fd3ed9d12c98.webp 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>XRP technical analysis. Source: TradingView</em>
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 <p class="paragraph">Meanwhile, XRP is on a bullish trajectory, aiming for the $1 mark, the main resistant point.&nbsp;</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/this-is-when-xrp-might-breakout-amid-lingering-sec-uncertainty-tbt69934.html">https://thebittimes.com/this-is-when-xrp-might-breakout-amid-lingering-sec-uncertainty-tbt69934.html</a></p>

This is when XRP might breakout amid lingering SEC uncertainty

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