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Ripple (XRP) Price Analysis: Golden Cross Intact as SEC Confirms Joint Appeal
The Ripple (XRP) price has defied expectations by holding above the crucial $3 support, despite a sharp decline in broader market interest. The recent pullback has failed to invalidate last week’s golden cross formation, which remains intact and continues to provide an underlying support for the cryptocurrency.
On August 16th, the US Securities and Exchange Commission (SEC) filed a status report with the appellate court, confirming that both parties had formally requested dismissal of their ongoing $125 million case. This unexpected development has boosted short-term interest in XRP, driving the price up to as high as $3.12.
The recent bounce has been marked by aggressive buying activity, which could potentially sustain Ripple’s consolidation above the critical support level and set the stage for a fresh rally once market conditions stabilize.
Source: www.coinspeaker.com
