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The fifth largest cryptocurrency by total market value, XRP, has met and exceeded recent expectations, experiencing a significant surge. Although the impact of the lawsuit news that triggered the rise in XRP price to $0.91 has subsided, the leading cryptocurrency still remains at a critical point of $0.62.
Current XRP Price
Looking at the current state of XRP price, it can be seen that, like the overall market, it has entered a downward trend in the past 7 days. XRP, which has experienced a 5% decrease in the last 7 days, concluded its journey starting from $0.65 at the support level of $0.62. $0.62, a horizontal support point, actually carries a significant meaning for XRP, either success or failure.
The current XRP price is actually progressing based on fundamental analysis rather than technicals, and developments related to lawsuits are keeping the agenda alive. Although a positive preliminary decision was made in the XRP case, a negative decision was made in the Terra vs. SEC case, which could also affect XRP.
XRP/USD Price Analysis
Looking at the chart of the XRP/USD pair, it can be seen that $0.67 is an important resistance. The critical resistance above this is $0.77. $0.77 has always been a critical resistance and breaking it previously brought $0.91 along with it. Therefore, an acceleration that will enable surpassing $0.77 can change everything for XRP.
In the worst-case scenario for XRP, the price may fall back to the support of $0.56. This support level, where the 50-day EMA line also comes, is definitely critical, and below it, the $0.3 range will come into play again. Currently, both RSI and MACD indicate a positive scenario for XRP.
Despite technical analysis, a future fundamental analysis news can overturn all resistances and supports. Therefore, XRP investors may need to carefully follow the news related to the lawsuit and evaluate their profit-taking points accordingly.
Currently, XRP continues to hover around $0.6.
