XRP / USD closed at $ 0.95393 after setting a high of $ 0.97303 and a low of $ 0.92334. XRP / USD rose Wednesday for the fifth consecutive session amid positive momentum around the Ripple ecosystem.
Following the recent scandal involving Ripple Labs at the SEC, markets have been moving in the right direction, with XRP finally rising.
Empower Oversight said the SEC was biased in favor of Ripple, and the lawsuit was filed by XRP in the hope that XRP could end a one-year lawsuit between the SEC and Ripple. Simply put, marketers were arguing that Empire Oversight would win over the SEC, forcing the regulatory agency to negotiate with Ripple.
CurrencyCloud partner Ripple, a major payment processing company, has won a $ 925 million deal. CurrencyCloud allows banks and Fintech companies to offer foreign exchange solutions for cross-border payments. This news has added more positive momentum for XRP / USD.
Meanwhile, the depreciation of the dollar supported the rise of the XRP / USD. For example, the US Dollar Index, which measures the price of the green currency against six major currencies, has dropped to 96.02, raising concerns that the Omicron alternative will be less effective against the following. Increased immunizations and less hospitalization in the Delta resulted in higher rates of infection and higher rates of infection. As a result, the US dollar and XRP have a negative relationship that increases strength against XRP / USD in the event of a weak US dollar.
Daily technical standards
Pillar Point: 0.95010
Ripple Technical Outlook – Retry XRP $ 1,025
The XRP / USD pair is trading at 0.9863, facing strong resistance at 1.0252. In the 2-hour period, the SMA may support the 0.9271 level. An increase in demand could extend the resistance to 1.0252 or 1.0733.
On the other hand, a sell-off could lead to a lower trend up to the support of 0.9270, and the cross below could push the XRP / USD price to the 0.8176 and 0.7632 levels. So let’s look at 0.8618 for sale and vice versa. good for you!