- Since August 17, buyers have been unable to keep prices above the $0.54 high.
- If the price manages to go past $0.53 then the price will likely rally towards $0.54 level.
The remarkable developments in the SEC v. Ripple litigation have prompted financial analyst and Wall Street expert Linda P. Jones to proclaim that Ripple is not merely open to discussion, but is determining the parameters of it. This claim follows a string of findings in Ripple’s favor and confirms what many in the cryptocurrency industry have suspected all along: that this dispute is headed toward a settlement.
On November 9, the United States SEC and Ripple Labs will have a pivotal meeting in the ongoing XRP case. Despite the dismissal of the charges against Ripple’s senior leaders the bigger concerns remain unsolved, making this conference an important consideration for the coming years of digital assets in the U.S.
The SEC has proposed a meeting date that would perhaps provide light on the future course of the legal struggle, highlighting the importance of the next gathering.
Bulls Striving Hard
At the time of writing, XRP is trading at $0.52, up 0.08% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is down 55.46%. Since August 17, buyers have been unable to keep prices above the $0.54. XRP has the fifth-highest market capitalization of all cryptocurrencies as per the CoinMarketCap ranking.
If the price manages to go past $0.53 recent high then the price will likely rally towards $0.54 resistance level. The price is likely to face stiff resistance from investors at this level. However, if the bears intervene and drive the price below $0.51 level, then it will likely test $0.49 support level. Further decline will likely move the price towards the $0.48 support level.
