XRP Price Dey Hold $3 Support as SEC Lawsuit Near Dismissal
XRP price don steady pass $3 after SEC and Ripple come file one joint motion on August 16 ask make dem dismiss their $125 million lawsuit, wey reduce legal wahala before final appeals court go approve. This legal clearance help XRP price make e bounce pass $3.10 after e test the $3 support level. Technical indicators still dey bullish: golden cross happen on daily chart wen the 5-day moving average cross pass the 13-day MA at $3.07, plus Relative Strength Index (RSI) stand at 51, meaning e get chance to climb more. Major resistance levels dey for $3.20 and $3.35; if e clear pass these levels, XRP fit run go $3.65. But if e drop below $3 support, e fit open road for price to pull back go $2.50. Traders suppose dey watch these levels as the case resolution dey near and the bullish chart patterns dey show say XRP get chance to go up.
Bullish
Di formal request to dismiss di SEC lawsuit dey sharply reduce regulatory uncertainty, e dey act as catalyst for positive sentiment about XRP. Short term, traders fit dey raise XRP price based on di news say di legal case go close soon, wey dem fit see for di rebound wey pass $3.10. Medium to long term, if di big legal wahala comot, e fit attract more institutional and retail interest, wey go put more upward pressure. Di golden cross for daily chart plus di neutral RSI dey support dis positive view say momentum fit continue. But to confirm say di bullish trend dey, dem need serious break pass di $3.20–$3.35 resistance, and if e drop below $3, e go cancel dis gains and fit make am fall back to $2.50.