altFINS

Resistance

Swing

<p>According to analysis firm <a href="https://twitter.com/santimentfeed/status/1709355660843024655?t=RljkKRBGwR-CCsmEgpwv_A&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Santiment</a>, XRP spiked 8% following news that the SEC’s appeal against Ripple was denied. The immediate aftermath saw Ripple’s native cryptocurrency, $XRP, experiencing a swift +8% surge, and it has swiftly become a focal point, constituting nearly a quarter of discussions related to the top 100 assets in the crypto space. XRP is hovering around $0.52 with a 3.5% surge in the last 24 hours/</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="652" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-70-1024x652.png" alt="" class="wp-image-348400" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-70-1024x652.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-70-300x191.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-70-768x489.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-70-1536x978.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-70-2048x1304.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-70-236x150.png 236w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-70-100x64.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-70-550x350.png 550w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-70-788x501.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-70.png 680w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p> 
<p>The recent court victory gave <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> an initial jolt higher, but the rally stalled as traders now ponder the next market moves in the aftermath.</p> 
<p>Per analytics platform altfins, this triangular pattern after a surge often presages a breakout in the trend’s direction. Most traders await an upside break above $0.55 and the 200-day moving average to signal a resumption of XRP’s uptrend.</p> 
<p>Until then, rangebound action between short-term support and resistance levels continues. The $0.45 zone marks nearest support, while $0.55, $0.68, and $0.92 represent overhead barriers.</p> 
<p>Delving into the technical analysis provided by altfins, the Ascending Triangle is identified as a continuation pattern, which typically heralds a breakout moving in the direction of the prevailing trend. While most traders adopt a strategy of waiting for a breakout, Swing traders might opt to trade between the trendlines—buying at Support and selling at Resistance—as long as the trendlines maintain a reasonable distance from one another.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-69-1024x573.png" alt="" class="wp-image-348391" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-69-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-69-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-69-768x430.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-69-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-69-2048x1147.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-69-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-69-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-69-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-69-788x441.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-69.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p> 
<p><strong>Trend and Momentum: A Mixed Bag</strong></p> 
<ul> 
 <li><strong>Trend</strong>: The short-term basis presents a neutral trend, while both medium- and long-term bases indicate a downtrend.</li> 
 <li><strong>Momentum</strong>: The momentum is somewhat mixed. The Moving Average Convergence Divergence (MACD) Line is positioned above the MACD Signal Line, which is typically seen as a bullish indicator. However, the Relative Strength Index (RSI) hovers around 50, signaling a neutral stance.</li> 
</ul> 
<p><strong>Support and Resistance Zones to Watch</strong></p> 
<ul> 
 <li>The nearest Support Zone is pegged at $0.45.</li> 
 <li>Resistance Zones are layered at $0.55 (which previously acted as support), followed by $0.68, and then the recently rejected $0.92.</li> 
</ul> 
<p>In light of these developments, traders and investors are keeping a close eye on Ripple, as its legal and financial journey continues to unfold, potentially unlocking new possibilities and challenges in the crypto market. The technical analysis provides a roadmap, but in the volatile world of cryptocurrency, the market may yet hold unforeseen twists and turns.</p> 
<p>XRP’s price surged by around 70% to trade at around 80 cents apiece after Ripple won early dismissal of some regulatory allegations related to its sale of more than $1.4 billion worth of the digital token in July 2023.&nbsp;This ruling was widely seen as a key hurdle to clear in the second half of 2023 as crypto assets were still contending with a challenging regulatory environment.&nbsp;</p> 
<p>XRP’s market capitalization surged by more than $21 billion in just three days.&nbsp;However, XRP’s gains were short-lived. By August, XRP had lost nearly all gains after Ripple Labs’ landmark court ruling over the U.S. Securities and Exchange Commission (SEC).</p> 
<p>While the latest legal victory bolsters Ripple’s case, the muted market response highlights the need for sustained fundamental improvements to reinvigorate XRP demand.</p> 
<p>For now, with momentum oscillators painting a mixed picture, traders are left navigating more sideways chop as they await indications of the token’s next decisive move. The coming trading sessions should determine whether bulls can engineer a trend-affirming breakout.</p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/will-xrps-price-jump-after-another-ripple-win-against-the-sec-be-short-lived/">Will XRP’s Price Jump After Another Ripple Win Against the SEC Be Short-Lived?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Will XRP’s Price Jump After Another Ripple Win Against the SEC Be Short-Lived?

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