XRP rallies by 18% today as SEC’s court decision is expected in a few weeks
As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.
Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase
The cryptocurrency market may end the week on a positive note, as XRP is the best performer among the top 10 coins in terms of market capitalization.
XRP, the original coin of the Ripple ecosystem, is the best performer among the top 10 cryptocurrencies by market capitalization. XRP has gained over 18% in the last 24 hours, outperforming the broader crypto market.
The rally comes as the broader crypto market looks set to end the week on a positive note. The crypto market is up less than 1% in the last 24 hours, with a total market capitalization approaching the $950 billion mark.
Bitcoin continues to trade above the $19,000 level, but could fall below it as BTC is down less than 1% in the last 24 hours.
ETH is trading above $1,300 again after adding over 2% today.
XRP’s rally comes after Ripple Labs filed for summary judgment in its case with the US Securities and Exchange Commission (SEC).
Following this presentation, a decision on whether XRP is a security is expected by mid-December.
#XRPCommunity #SECGov year #Ripple #XRP 1/2 The parties have filed a request that all third-party motions to seal portions of the parties’ summary judgment filings be filed in accordance with the court’s 9/12/2022 order. pic.twitter.com/J6rbeRXmHi
— James K. Filan 🇺🇸🇮🇪 114k (beware of scammers) (@FilanLaw) 19 September 2022
Key levels to view
The XRP/USD 4 hour chart is very bullish as XRP has performed well over the past few hours. Technical indicators show that XPR is outperforming the broader cryptocurrency market.
XRP/USD Chart by TradingView
The MACD line is in deep positive territory, indicating bullish momentum for XRP. The 14-day RSI of 67 indicates that XRP may enter overbought territory if the upward momentum continues.
At press time, XRP is trading at $0.50077 per coin. If the rally continues, XRP could break above the $0.6119 resistance level for the first time since May.
However, it needs broader crypto market support to target the $0.66272 resistance in the near term.
Where to buy now
eToro is one of the world’s leading multi-asset trading platforms, offering the lowest fees and commissions in the industry. Its social copy functions make it a great choice for beginners.
Buy XRP on eToro today
Capital.com is a global broker that offers its users more than 200 cryptocurrencies. It has several features such as; great security, 24/7 support, demo accounts and a wide selection of assets. In addition, it has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto tokens.
Buy XRP at Capital.com today