Ripple was all over the news when the SEC filed a lawsuit against XRP not being registered as a security with the organization but being traded and likewise earned against its selling in the market. XRP is believed to have a dependent price movement regarding having an underlying asset, just like registered security may have.
With this, XRP that was trading above $0.900 in the last week of November 2020 was seen crashing to trade below $0.200 within 30 days of its height attained. Moreover, XRP continued to trade against the market momentum with a bearish crossover until the recent bullish candle got formed on the 12-hourly chart for over ten days.
Now, not that the lawsuit has been taken back, but XRP momentum looks like it is regaining its lost stance. And as per the recent XRP Prediction, the currency might recover soon.
XRP Price Analysis
At the time of writing the XRP price analysis, the coin was trading above $0.30 at $0.324 after having formed a green restoring candle on the above chart. With a gain in price, XRP/USD is moving towards testing the 50-day and 200-day 12-hourly MA at $0.36 and $0.35 after the candle has breached the upper 20-day Bollinger Band.
Although, XRP can regain the lost support only after it continues to spur with the same or higher momentum. The MACD chart also reflects a bullish divergence due to the current positive sentiment prevailing, leading the RSI to rise from the oversold region and lie at 60.03.
Is this XRP’s comeback, or is this investors’ loyalty for their investment in XRP?
