Ripple has been gaining ground globally as more than 20 central banks look to cooperate with it, despite the tension in the air brought on by the legal dispute between XRP and the Securities and Exchange Commission (SEC). Establishing a collaboration agreement with these nations is beneficial to all parties, according to Ripple’s Senior Vice President of Customer Success and Managing Director of APAC and MENA, Brooks Entwistle.
XRP continues to survive bearish pressure despite the legal dispute still being a topic of debate in the cryptocurrency world. Investors are, however, becoming more confident about the verdict’s conclusion as the judgment date approaches. In the case of a favorable ruling, XRPUSD could finally soar past the key resistance.
Key XRP Levels To Watch – March 2
The market’s overall trend became bullish after the bullish divergence was revealed by the Relative Strength Index (RSI). Price was forming lower lows while the RSI was forming higher lows; this indicates that the market’s environment is about to change.
As of now, the market is facing downward alongside a diagonal resistance. According to the Moving Average, the market is currently in a retracement phase. This retracement phase is expected to end as soon as the price enters the discount zone.
Ripple Key Levels
Resistance Levels: $0.5600, $0.5100, $0.0.4330
Support Levels: $0.3000, $0.2400, $0.2000
Total Market Capitalization: $1.07T
XRP Market Capitalization: $19.39B
XRP Volume: $0.84B
Market Rank: #6
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