Advertisement
AD

Main navigation

XRP Price to Cap First Winning Week Since September: Details

Advertisement
Sat, 21/10/2023 - 14:44
XRP Price to Cap First Winning Week Since September: Details
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

XRP, the fifth largest cryptocurrency, could be on track for its best week since early July, when it closed about 59% higher following a summary judgment verdict in Ripple's favor.

Advertisement

According to CoinMarketCap data, XRP was last up 0.01% at $0.517. XRP is currently up 6.03% in the week, its biggest gain since the week of July 10, when it rose 59%.

If gains continue this week, it will be XRP's first green week since September, when it had two green weeks in a row between Sept. 18 and Sept. 25. However, during these two weeks, the gains were 1.95% and 4.40%, respectively.

It is indeed a winning week for XRP and Ripple in particular after the SEC Thursday night dropped claims against two Ripple Labs executives — CEO Brad Garlinghouse and co-founder Chris Larsen — in its lawsuit alleging the company violated U.S. securities law.

Advertisement

Related

XRP saw a rise to a high of $0.524 on Oct. 19 in the wake of the news, but it has since pared off the gains.

XRP price action

Following a significant increase on Oct. 19, the price of XRP is caught between its moving averages of MA 50 and MA 200, at $0.504 and $0.527. A break above or below the moving averages could indicate the next directional move.

Related

Regardless of how XRP settles, traders should keep an eye on the $0.56 and $0.41 levels. A breach of the overhead barrier could signal the start of a new rise in the XRP price.

XRP, on the other hand, may experience considerable selling if the price falls below $0.41. The overall picture, however, remains one of consolidation before a price breakout.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD