The crypto currency market is in an upward phase with the upward momentum of the leading Bitcoin. Bitcoin although dominance has increased, some altcoins have managed to stand out with incredible rallies. But Ripple (XRP), has not yet been able to put forward the expected performance. XRP investors are wondering when this will happen while waiting for the rise of the popular crypto currency.
The Market Has Turned Green Yesilmaz
The leading crypto currency Bitcoin has climbed with earnings exceeding $ 10,000 in less than a week. Axie Infinity climbed to $ 160, while Shiba Inu quadrupled its price. When the cryptocurrency market is on an uptrend XRP after the 1.10 dollar touch, it fell back to the 1.06 dollar levels.
Leaps from 100 SMA in daily chart data XRP, has been stuck in the 50 SMA zone since last week when it failed to meet expectations. This moving average served as a support during the bullish momentum in August, but is now located in the resistance zone. Ripple is hesitant to jump to high levels. Bulls have not yet been able to mobilize market dominance. On the daily chart, 50 SMA is located as a strong resistance and buyers need to exceed this moving average.
The popular crypto currency XRP is trading at $1.07 as of the moment of writing this article. XRP is facing the problem of lack of momentum for upward acceleration. XRP the MACD confirms the upward trend as the RSI continues to hover at 68 on the daily charts.
The Ripple-SEC Case
Trial judge, SEC-Ripple in his case Ripple Labs he refused to allow XRP owners who wanted to express an opinion on behalf of his company to participate in the lawsuit. But XRP the owners will be able to contribute to the process in the case as amici curiae. While the lawsuit between Ripple and dec SEC is a factor that could trigger major effects on the XRP price, the popular crypto currency is not gaining momentum.