Why is XRP price up today?

Trading volumes for XRP-related pairs on Binance rose by more than 200% in 24 hours as the rate rallied, suggesting that the relocation might have momentum behind it. Whats next for XRP price?However, technicals are beginning to lean bearish with XRP positioned for a prospective cost correction in May.The bears will argue that the so-called Gravestone Doji on XRPs March 17 candle light was validated by a long upper wick and a minor distance in between the tokens open and low points. Traditional analysts see a Gravestone Doji candle as a bearish reversal pattern. XRP/USDT daily cost chart. Source: TradingViewIn addition, XRP faces disadvantage pressure from its 50-day exponential moving average (50-day EMA; the red wave) near $0.454 and a short-term coming down trendline resistance. When it comes to a pullback, XRP will likely see the next considerable support at $0.42 in May, down 5.5% from existing price levels.Related: Defending versus SEC to cost Ripple $200M, CEO Brad Garlinghouse saysConversely, a definitive break above the resistance confluence will press XRP price toward $0.50 as its next target by June.This article does not contain financial investment guidance or recommendations. Every financial investment and trading relocation includes danger, and readers should perform their own research study when deciding.

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In that speech, Hinman argued that Ethereums Ether token is not a security asset.The judgment might press Ripple toward a legal win, given its capability to prove that XRP is not a security. Ripples apparently increasing chances of winning have likely led XRP to increase 10.5% given that May 16 despite a more comprehensive drawback belief in the market.BREAKING: $XRP price rises after Judge Torres denies SECs Motion to Seal the Hinman files, and holds off on #Ripple vs. #SEC verdict, awaits Congress for a regulatory roadmap.

The cost of XRP (XRP) leapt by almost 4.25% to $0.461 on May 17, its greatest level in over a week after Ripple scored a small win in its legal fight versus the U.S. Securities and Exchange Commission (SEC). Ripples apparently increasing chances of winning have most likely led XRP to increase 10.5% because May 16 in spite of a more comprehensive drawback sentiment in the market.BREAKING: $XRP cost rises after Judge Torres rejects SECs Motion to Seal the Hinman documents, and holds off on #Ripple vs. #SEC verdict, waits for Congress for a regulatory roadmap. Whats next for XRP price?However, technicals are starting to lean bearish with XRP positioned for a prospective cost correction in May.The bears will argue that the so-called Gravestone Doji on XRPs March 17 candle was confirmed by a long upper wick and a minor range in between the tokens open and low points.

The rate of XRP (XRP) leapt by almost 4.25% to $0.461 on May 17, its greatest level in over a week after Ripple scored a small win in its legal battle versus the U.S. Securities and Exchange Commission (SEC). The XRP gains appeared in spite of the wider cryptocurrency market, led by Bitcoin (BTC) and Ether (ETH), seeing modest losses of 1% in the previous 24 hours. Ripple ratings a little secthe versus win XRP/USD pair per hour chart listed below shows exactly when XRP price decoupled from the remainder of the crypto market. XRP/USD hourly cost chart. Source: TradingViewXRP cost noticeably jumped when previous defense lawyer James K. Filan tweeted a copy of a May 16 judgment concerning the legal fight between Ripple and the SEC. #XRPCommunity #XRP #SECGov v. #Ripple BREAKING: Judge Torres rejects the SECs Motion to Seal the Hinman documents.https:// t.co/ wiatz4vCHL– James K. Filan (@FilanLaw) May 16, 2023