{"id":26255,"date":"2024-08-09T10:00:34","date_gmt":"2024-08-09T07:00:34","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=26255"},"modified":"2024-08-09T09:20:32","modified_gmt":"2024-08-09T06:20:32","slug":"xrp-rallies-20-after-sec-legal-victory-potential-breakout-ahead","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/xrp-rallies-20-after-sec-legal-victory-potential-breakout-ahead\/","title":{"rendered":"XRP Rallies 20% After SEC Legal Victory: Potential Breakout Ahead"},"content":{"rendered":"

The long-awaited SEC vs. Ripple lawsuit has concluded with a partial win for Ripple. The cryptocurrency firm was ordered to pay a $125 million fine for selling XRP to institutional investors, but the court also ruled that XRP is not a security in most circumstances.<\/p>\n

Following the news, XRP’s price surged over 20%, breaking above the crucial $0.60 level. Technical analysis suggests that XRP<\/a> is poised for a potential breakout from a long-term symmetrical triangle pattern.<\/p>\n

XRP Price Analysis<\/strong><\/p>\n

A symmetrical triangle pattern has formed on XRP’s weekly chart, suggesting a period of consolidation before a significant price move. The recent bounce off the support trendline of the triangle, coupled with bullish candlestick patterns and positive RSI and MACD readings, indicates a potential upward breakout.<\/p>\n

\"\"
\nIf XRP successfully breaks out of the triangle, price targets of $0.95 to $1.02 are possible based on both wave count analysis and the height of the triangle itself.<\/p>\n

You can share your opinions in the comments about the topic. Also, follow us on\u00a0Telegram<\/strong><\/a>,\u00a0Twitter<\/strong><\/a>, and\u00a0YouTube<\/a><\/strong> for more content like this.<\/p>\n","protected":false},"excerpt":{"rendered":"

The long-awaited SEC vs. Ripple lawsuit has concluded with a partial win for Ripple. The cryptocurrency firm was ordered to pay a $125 million fine for selling XRP to institutional investors, but the court also ruled that XRP is not a security in most circumstances. Following the news, XRP’s price surged over 20%, breaking above<\/p>\n","protected":false},"author":1,"featured_media":26256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[7756,58,6913,2394,509,1683,39,7757,1615,506],"class_list":["post-26255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coin-analysis","tag-breakout","tag-cryptocurrency","tag-macd","tag-price-analysis","tag-ripple","tag-rsi","tag-sec","tag-symmetrical-triangle","tag-technical-analysis","tag-xrp"],"yoast_head":"\nXRP Rallies 20% After SEC Legal Victory: Potential Breakout Ahead - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/xrp-rallies-20-after-sec-legal-victory-potential-breakout-ahead\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XRP Rallies 20% After SEC Legal Victory: Potential Breakout Ahead - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The long-awaited SEC vs. Ripple lawsuit has concluded with a partial win for Ripple. 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