- XRP ended its 5-session winning spree on Saturday after a 2.93% dip.
- There wasn’t news from the ongoing Ripple vs. SEC case to offer direction, leaving enthusiasts to lock in their profits as 30 November approaches.
- Technical indicators flash less bearishness, with XRP hovering beyond the 100-dayEMA, suggesting a potential return to $0.45.
Saturday sessions had XRP plummeting by 2.93%, reversing Friday’s 1.46% jump to close the day near $0.39604. Moreover, the remittance token revisited the $0.41 mark for the 2nd succession session & the 2nd time since FTX’s debacle.
Bullishness early on the day witnessed XRP soaring to a morning peak of $0.41365. Failure to conquer the initial resistance at $0.4213 saw XRP sliding to $0.39277 lows. Nevertheless, the alt secured late support to revisit $0.3971 before easing.
The alt bucked the broad market sentiment on Saturday. Investors could have locked in profits following five successive daily gains, with XP’s trading volumes deteriorating during the afternoon session.
XRP Investors Can Focus on the 30 November Court Date
While the market lacked updates about the Ripple-SEC case, the upcoming 30 November Court date is approaching. The parties will file summary reply briefs on Wednesday. These are crucial as Ripple might utilize the filing to pressure the regulator into a settlement.
XRP Price Action
XRP changed hands at $0.39962 during this writing, gaining 0.90%. Earlier bullishness pushed the alt to a $0.39979 high before easing. The token should overcome the pivot at $0.4008 to clear the road to the massive resistance at $0.4089 before revisiting the $0.41365 Saturday high.
Reclaiming $0.4050 would confirm another breakout session. Failure to overpower the pivot would open doors to the initial support at $0.3880. Excluding massive sell-offs, the remittance token should avoid $03850 & the 2nd support of $0.3799.
Meantime, the 3rd reliable support hovers at $0.3591. Nevertheless, investors should consider unexpected news on Ripple vs. SEC lawsuit & from FTX borrowers. The EMAs & 4hr candle chart flashed more bullishness.
While writing these lines, XRP swayed beyond the 100-day Exponential Moving Average – currently near $0.39103. meanwhile, the 50d EMA moves to 100d EMA, whereas the 100d EMA narrows to the 200d EMA – bullish signals.