Ripple (XRP) continues to trade on a bullish sentiment amid an upbeat momentum across the broader market. At press time, XRP trades up at $0.8950 with an intraday gain of 3.5%.
After a prolonged bearish period, the cryptocurrency market appears to have snapped out of the bearish trance, as investors troop back into the market sending benchmark cryptocurrency Bitcoin above $45,000. Meanwhile, Ethereum is also exerting bullish pressure on the market after the launch of its highly-anticipated London Hard Fork last week.
In other news, the Ripple vs. SEC legal battle continues to drag along with the Commission filing a new motion demanding access to communication info between Ripple’s employees on Slack. The SEC claims that a good amount of Slack data was removed from the discovery and insists that it gains access to the data.
Ripple has since filed a request asking for more time to prepare the data, demanding an extension on the deadline from August 12 to August 16.
Meanwhile, XRP could receive an extra boost from a new development with crypto exchanges KickEX. The trading platform recently announced that it had added XRP as a tradable asset on its platform, which could drive demand for the token.
Key Ripple Levels to Watch — August 11
With the recent spate of bullish movements, it appears that the previously bearish market sentiment is now over. XRP currently trades a few points under the $0.9000 level, as the $1 psychological level comes into view.
While the market is in extreme bullish mode, it calls for some caution for bulls, as XRP is now in overbought conditions, and a sharp correction could be around the corner.
Meanwhile, our resistance levels are $0.9000, $0.9270, and $0.9500, and our support levels are $0.7000, $0.6500, and $0.6000.
Total Market Capitalization: $1.91 trillion
Ripple Market Capitalization: $41.3 billion
Ripple Dominance: 2.15%
Market Rank: #6
[xyz-ihs snippet="Markets"]
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.
