After a favorable ruling on the SEC’s case, and following the upcoming elections. Bitcoin halving. The outcome of the Ripple/SEC Trial and how it is conducted will have a major impact on the future for XRP as well as the cryptocurrency industry.
Ripple has until April 22 to submit an opposition brief in response to SEC’s remedy-related brief. The upcoming Bitcoin halves are scheduled for this week. The halving of Bitcoin will affect the trajectory of XRP’s price and that other cryptocurrencies. If Ripple gets a favorable response to the brief from the court, XRP could begin rising above its recent bearish trend.
As we go to press, the price of XRP was just $0.50. Recent bear markets have seen the price of the asset drop. Experts are confident that both of these events will have a positive impact on XRP. Analysts are at Forex XRP is expected to experience a strong increase in price of up to 2.50%. If XRP continues to trade above this pivot level, it will likely encounter resistance immediately at $0.53970. Higher resistance levels could be found at $0.56610, and then $0.58970.
It’s also possible for XRP to continue falling in the reverse direction. This is unlikely. Should XRP fall below the pivot level, significant support is found at $0.49260, with lower supports of $0.46310 and 0.41750. Ripple XRP RSI shows neutrality but a fall below $0.51 could mean a very steep hill.
Bitcoin’s circulating supply will be halved at the Bitcoin halving. As a result, the price of the digital assets will increase. This should have an impact on the entire market for digital assets.
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Source: watcher.guru