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XRP, given all the current SEC-oriented lawsuit and such, is doing great against the USD, and as a matter of fact, it is now trading against at a reasonable pace. The current trading is happening at $1.35, and there are chances to improve this in the long run. However, XRP at the moment is showing positive signs above $1.20 and $1.30 resistance levels. There is a contracting triangle that is forming around $1.50, which is nothing less than impressive, and if XRP is able to clear this resistance zone, then there are chances that it will meet a solid rally in terms of price thrusting sky high.
XRP Sticking with the Current Resistance amid SEC Lawsuit
It is not that only XRP has taken the hit; this is a common phenomenon in the crypto market these days as Ethereum and Bitcoin’s price have also been kicked real bad but miraculously, XRP is sticking with the resistance of $1.50, and if it does and clears this obstacle then it is going to see a positive boost in its performance over the course of weeks, and it can be said that a bullish run will accompany it as well.
Despite all that is going around with the SEC’s lawsuit against XRP as being a security and not a real cryptocurrency is really putting out a big ‘if’ out there, such as would it be able to survive the lawsuit and stabilize itself in the US market or not? The case is taking exciting twists and turns, and it can be said with due diligence that sooner than later, the whole thing will be over as XRP has run into some pretty great evidence that SEC back then did acknowledge XRP being a cryptocurrency publicly in a few newspapers and such, which is the raging bull XRP’s defence, is currently using to make this whole case disappear like it was never there. But this is not as easy as it sounds, and surely there are some things that need to be done in a specific manner if both parties are ever going to see an end to it. Only time will tell where the final verdict lands or weighs in towards which party.