CandleFocus XRP Traders See SEC Appeal as the Final Shakeout Before Recovery
2024-10-04
Author: Content Editor
Ripple's XRP experienced a price drop following the US SEC's appeal challenging its non-security status. However, traders in the derivatives market are optimistic about a potential rebound for XRP, with the long/short ratio showing a majority of traders taking long positions. The liquidation heatmap also suggests a potential bounce near the $0.62 to $0.63 range. The Bollinger Bands indicate that XRP is oversold and slight buying pressure could trigger a rebound. If XRP breaks through the resistance level of $0.58, the price could reach $0.62, but an unfavorable outcome from the SEC appeal could push the price down to $0.48.
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