Yahya 
Recently, Bitwise’s application for the first spot XRP exchange-traded fund (ETF) has excited XRP coin investors. Additionally, the announcement by the judge overseeing the long-standing SEC Ripple lawsuit that the previous ruling is being appealed has caught the attention of investors. These developments are playing a significant role in the price movements of XRP coin.
XRP Coin Price Movements and Future Expectations
Following recent developments, XRP has experienced noticeable price movements. Looking at the chart, we can see that XRP has been fluctuating between $0.4310 and $0.666 for approximately two and a half months. During the latest rally, the price cleared the liquidations at the $0.658 level, triggering a high-volume decline. This is seen as a significant signal that could alter market dynamics.
Analyses suggest that XRP could maintain a positive outlook if it holds above the $0.666 level. However, if it remains below this level, it is warned that all potential upward movements may merely be a buildup of liquidity for further downward moves. Another point for investors to watch is that pullbacks may continue to clear liquidity around the $0.4310 level.
How will XRP coin’s price respond to Bitwise’s ETF application and the developments in the SEC lawsuit? This question is a major concern among investors. Future price movements will be shaped by how these critical levels are tested and how investors react to them.
In the past, ETF approvals have led to significant rallies in the markets.
The information in this article does not provide any investment advice.
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