CandleFocus XRP to $2: This Crucial Level Needs to Be Cleared First
2024-11-23
Author: Content Editor
The price of XRP has surged following news of Securities and Exchange Commission Chair Gary Gensler's upcoming departure in January 2025. The SEC had previously filed a lawsuit against Ripple, alleging the sale of unregistered securities in the form of XRP. Despite a federal judge ruling that XRP is not a security, the SEC sought to appeal parts of the decision. XRP has gained momentum in the market, reaching $1.55 and potentially aiming for $2. However, technical analysis suggests that $1.70 is a significant obstacle for XRP. The market is closely monitoring XRP's next move, and positive fundamentals and increased exposure in the US may contribute to its upward trajectory. On the downside, $1.27 serves as initial support, and a break below that level could lead to selling pressure and XRP falling closer to $1.
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