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The crypto community has been quite enthusiastic about the resolution of the lawsuit between Ripple and the Security and Exchange Commission (SEC), even though it has not yet been resolved. Attorney Deaton asserts that there is a strong likelihood that the cases will go to a jury trial and that Ripple will win with a fine.
It’s important to note that since December 2020, this legal dispute has been a topic of concern for the crypto community. Ripple was allegedly involved in raising about $1.3 billion illegally. This SEC allegation has slowed the growth of XRPUSD to some extent, as most investors are wary of going all in on XRP.
Key XRP Levels To Watch – February 15
The Stochastic indicator currently shows that the market is recovering from an extremely oversold region. While XRPUSD keeps expanding to the upside with respect to diagonal support, the market’s overall trend is still bearish.
The bearish order block began with the rejection of prices exceeding the 0.5600 price level. As of now, XRPUSD is trading within the 0.5100 and the 0.3000 price levels. Once the consolidation phase is complete, the price might head to the 79.0% Fibonacci retracement level.
XRP Key Levels
Resistance Levels: $0.5600, $0.5100, $0.0.4200
Support Levels: $0.3000, $0.2400, $0.1700
Total Market Capitalization: $1.11T
XRP Market Capitalization: $20.30B
XRP Volume: $1.15B
Market Rank: #6
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