Rally

Divergence

XRP price has seen significant fluctuations over the past few days, demonstrating a bullish trend across the board. The cryptocurrency has been hovering above the critical $0.59 support level, reflecting a resilient buyer presence in the market. This marks a notable recovery phase for XRP after a period of volatility.
However, over the past 24 hours, the market has witnessed a slight pullback in XRP price. The decline raises concerns about whether the support level will hold if bearish pressures continue. As of the reporting time, <a href="https://coingape.com/price/xrp/" rel="noopener noreferrer nofollow">XRP</a> is trading at $0.5906, with a slight decrease of 2% during the U.S. trading session.&nbsp;
<h2 id="strong-xrp-price-fluctuates-amid-sec-rumors-strong">XRP Price Fluctuates Amid SEC Rumors</h2>
Over the past week, the <a href="https://coingape.com/glossary/cryptocurrency/" rel="noopener noreferrer nofollow">cryptocurrency</a> has witnessed a notable surge in value, climbing by 9%. The price of XRP saw a weekly low of $0.54 and reached a high of $0.62 during this period.&nbsp; This upward movement is captured in its recent price, which shows significant fluctuations but an overall positive trend over the last seven days.
<figure id="attachment_209712" aria-describedby="caption-attachment-209712" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-209712" src="https://coingape.com/wp-content/uploads/2024/07/XRPUSDT_2024-07-26_19-16-51-1.png" alt="XRP Price Rally Stalls As Experts Downplay Settlement Hopes After SEC Closed Door Meeting" width="1154" height="588" srcset="https://coingape.com/wp-content/uploads/2024/07/XRPUSDT_2024-07-26_19-16-51-1.png 1154w, https://coingape.com/wp-content/uploads/2024/07/XRPUSDT_2024-07-26_19-16-51-1-300x153.png 300w, https://coingape.com/wp-content/uploads/2024/07/XRPUSDT_2024-07-26_19-16-51-1-768x391.png 768w, https://coingape.com/wp-content/uploads/2024/07/XRPUSDT_2024-07-26_19-16-51-1-150x76.png 150w" sizes="(max-width: 1154px) 100vw, 1154px">
 <figcaption id="caption-attachment-209712" class="wp-caption-text">
 XRP Price| Source: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/x/lmgi3fsH/">TradingView</a>
 </figcaption>
</figure>
The 4-hour technical chart for XRP/USDT on Binance indicates moderate volatility in the market over the past several weeks. The Moving Average Convergence Divergence (MACD) shows a relatively flat movement, suggesting a lack of strong directional momentum in the short term. 
The MACD line is close to crossing below the signal line, a potential indicator of a bearish trend if it continues. The<a href="https://coingape.com/glossary/rsi-relative-strength-index/" rel="noopener noreferrer nofollow"> Relative Strength Index </a>(RSI)&nbsp; stands at 43, indicating that XRP price is neither overbought nor oversold.&nbsp;
With the <a href="https://coingape.com/ripple-sec-settlement-xrp-lawyer-spotlights-major-obstacle-if-agency-accepts-deal/" rel="noopener noreferrer nofollow">XRP</a> settlement rumors swirling, Ripple Labs finds itself at a pivotal point in its ongoing legal tussle with the U.S. Securities and Exchange Commission (SEC).&nbsp;Enthusiasts of XRP have high hopes for a favorable outcome, stirred by recent statements from Ripple’s CEO about potential settlement talks. Legal experts supportive of XRP argue that a settlement could significantly affect <a href="https://coingape.com/xrp-news-lawyer-seeks-ripple-lawsuit-drop-amid-kamala-harris-crypto-pivot/" rel="noopener noreferrer nofollow">Ripple</a> operations.&nbsp;
They caution, however, that a settlement could bar further appeals, a reason it might not occur. A pro-XRP attorney criticized the SEC’s stiff demands, which include penalties totaling approximately $2 billion for disgorgement and interest.&nbsp;He expressed skepticism about the SEC’s ability to enforce such a substantial financial penalty against the cryptocurrency firm.
XRP price is facing strong rejection at $0.62. If bullish sentiment returns, it could reach $0.68 or even $0.70. However, if bears take control, the price may fall back to support levels at $0.58 or lower, potentially testing the resilience of the $0.55 support zone
The post <a href="https://coingape.com/markets/xrp-price-rally-stalls-as-experts-downplay-settlement-hopes-after-sec-closed-door-meeting/" rel="noopener noreferrer nofollow">XRP Price Rally Stalls As Experts Downplay Settlement Hopes After SEC Closed Door Meeting</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Price Rally Stalls As Experts Downplay Settlement Hopes After SEC Closed Door Meeting

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