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The long-standing legal battle between the digital payment network Ripple 
$2 and the SEC has reached a conclusion, marking the end of a prolonged downward trend in XRP’s price. Technical analysis indicates an increase in signals supporting upward movement in the price chart. Experts observe that buying pressure is intensifying, suggesting the potential for significant price increases. However, caution is advised regarding market volatility and the impact of leveraged trading.
XRP Price Analysis: Key Support and Resistance Levels
XRP has broken above its long-term downtrend line, signaling a positive shift in its technical outlook. Based on technical analysis, price is expected to rise to $3.40 and $3.78, supported by Fibonacci retracement levels. Analysts believe that if the price maintains stability above these levels, the likelihood of XRP reaching $5 will increase significantly.
Prominent market analyst Dark Defender notes that the breakout in XRP’s price trend has increased buying pressure. Technical analyses confirm that a significant green candlestick has validated the upward movement, indicating that buyers are entering the market.
Caution on Leverage Risk Amid Market Volatility
Market observers warn that the rise in XRP’s price lacks sufficient backing from major investors. Data indicates no significant accumulation of XRP, while the futures market has seen a $200 million increase. Analysts suggest that price movements may be supported by leveraged positions, potentially increasing volatility.
Experts emphasize that at least one spot XRP ETF approval would support price increases and could enhance upward momentum. Especially, the entry of institutional investors could pave the way for a parabolic rally for this altcoin.
Crypto analyst Ali Martinez cautions that Ripple’s rally is risky due to the lack of support from major investors. The technical outlook indicates that substantial investment is necessary for sustainable price growth.
