XRP is trading at $0.293 and has taken some interesting turns today. It started the day with a range-bound trade between $0.284 and $0.287, and slowly moved to $0.294 by mid-morning – a 5.27% increase during the day itself. It fell by 1.50% and has again risen by 3.99% at the time of writing. https://ift.tt/3oDZt6o XRP Performance in the Last Few Days Since Friday, XRP has moved by 6.28%, and Thursday had seen a gain of 5.83%. Since today morning XRP has missed the support levels of $0.2521 and moved to a mid-morning intraday high of $0.32. Within the 23.6% FIB of $0.32, the currency fell through an important resistance level of $0.27. However, 27th January saw major action in the price fall of 12.23%, ever since XRP saw a steady increase of 4-5%. Even 9% since the last two to three days. Rebound Despite News Sentiments The market seems to be taking a directional call on whether to break through resistance levels based on news. Ripple and its CEO Brad Garlinghouse face a new class-action lawsuit alleging the sale of “unregistered security” of XRP worth $1.38 billion to Florida residents. Ripple Labs has pushed back saying that XRP is a utility token and has massive transaction uses rather than trading one and hence does not fall under the purview of the trading securities regulations. Despite this news, the sentiment has been a more flat or bullish sentiment in the price. The volumes are enough to substantiate the trends. Next Few Days for XRP The bullish trend could continue if the currency breaks the $0.30 levels today. The next resistance level is $0.31 and the second resistance is at $0.32. If the price starts to fall below these then the first support level to look for is $0.28 at 100 SMA, and the next level below it can be $0.27. The 4- hour MACD is in the bullish zone and 4 hour RSI is also well above 50.
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