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XRP Flips From Bottom: Could It Resurface Amid The Downtrend?

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Amidst the market fluctuations, XRP price has maintained its gains and has been hovering in a narrow range for weeks. This month, the XRP crypto remained flat and stayed in a range.

Following the broader crypto market correction, the XRP price has retraced from the upside of $0.7500 and retested the demand zone of $0.4700; a correction of over 30% in the past two months was recorded.

Is This the End of the XRP Lawsuit? What’s Next for XRP?

As per the media source reports, Ripple vs. SEC has agreed to the settlement terms. Additionally, the XRP lawsuit might end before May 20, as the report says.

However, investors are in a dilemma and are still awaiting further clear guidance Meanwhile, the XRP crypto made a triple bottom and will address a rebound in the next few sessions.

Source: X (Twitter)

At press time, the XRP crypto price traded at $0.5194 with an intraday gain of 0.10%, reflecting neutrality on the charts. It has a monthly return ratio of 4.90% and 16.78% yearly.

XRP Price Action Highlights Rush Among Investors

On the daily charts, XRP crypto was eyeing a recovery and held the gains for the past sessions. XRP crypto has retested the downside region multiple times and might pick strength soon.

A break and close above $0.5370 will lead to a significant jump toward the 100-day EMA mark and will flip the trend ahead. Additionally, signs of bear trap activity were noted, and the XRP price has crossed the 20-day EMA mark.

Source: Santiment

The RSI curve stayed near the midline region, standing at 45, and a positive crossover was noted on the charts. This week, the rise in price volatility signifies investor speculation and a rush to buy before the lawsuit settlement.

Amid the spike in volatility, XRP price remained flat and traded close to $0.5200.

Source: Santiment

Looking forward, the weighted sentiment data stayed close to the midline, noting around 0.119, highlighting neutrality.

XRP Futures Open Interest Data Insights

The Futures open interest data of the XRP coin signifies a slight increase in long positions.

Source: CoinGlass

The open interest data highlighted a minute surge of over 1.21% to $558.89 Million in the last 24 hrs.

What Sharpe Ratio Indicator Replicates?

Amidst the notable decline of over 15% last month, the value of the Sharpe ratio remained above the 1 mark, replicating neutrality.

Source: Messari

Surge In Popularity

The social volume of the XRP crypto represented a notable hike of over 27% and jumped to the 331 mark, signifying the surge in popularity and discussion among investors.

Similarly, the X followers data highlighted a significant increment and surged to 330. A notable spike of over 65% in the past three months was noted. The immediate support levels for the XRP are $0.5100 and $0.5020, respectively, whereas the key upside hurdle is around $0.5270, followed by $0.5350.

Conclusion

The XRP crypto price overtook the 20-day EMA mark and gained momentum this week. Amidst the XRP lawsuit, investors are awaiting a positive change and looking to add fresh positions.

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.

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