Ripple Price Prediction: XRP Bullish Momentum Stalled By The 20-day SMA

Last Updated July 23rd 2021
2 Min Read

Daily Ripple XRP Technical Analysis
  • XRP has managed to chart three straight bullish sessions.
  • Ripple price has flashed two bullish signals in the 4-hour chart.

In the second half of February, the Ripple price dropped from $0.635 to $0.417. Following this drop, XRP rose to $0.478 on March 4. Since then, the price has been hovering above the $0.46 level.

Ripple Price Is Expected To Reach These Levels

Over the last four days, the Ripple price has twice tried to break above the $0.50 price level and failed. As things stand, the 20-day SMA has prevented XRP from going up any further. However, the RSI is still hovering in the neutral zone so the bulls still have more room to grow.

xrp/usd daily chart 030921

Image: XRP/USD daily

The 4-hour Ripple price chart shows two bullish signals:

  • Firstly, the MACD indicates sustained bullish market momentum.
  • Secondly, the Bollinger band has started expanding, which shows that the overall price volatility is about to flip from low to high.

xrp/usd 4-hour chart 030921

Image: XRP/USD 4-hour

Ripple: Asia Pacific Operations Unaffected By SEC Lawsuit

Ripple recently claimed that its Asia Pacific business has remained unaffected by the lawsuit filed by the US Securities and Exchange Commission (SEC) in late 2020. Following the lawsuit, many crypto exchanges based in the US shut down the trading of Ripple’s native token XRP.

Ripple CEO Brad Garlinghouse said: 

It (the lawsuit) has hindered activity in the United States, but it has not really impacted what’s going on for us in Asia Pacific. We have been able to continue to grow the business in Asia and Japan because we’ve had regulatory clarity in those markets.  

He highlighted that none of the 200+ cryptocurrency exchanges outside the US supporting XRP followed the ban led by Coinbase. According to Garlinghouse, Ripple has signed over 15 new contracts with global banking enterprises since the lawsuit announcement. He added the lack of clarity regarding cryptocurrency regulations in the US has been a “hindrance” to innovation. 

Current financial regulatory definitions by the US SEC recognize Bitcoin as a commodity. However, it is still unclear if other cryptocurrencies such as XRP are considered commodities, securities or digital assets that require compliance to regulatory frameworks.

Ripple Price Is Expected To Reach These Levels

If the Ripple price manages to cross the 20-day SMA, it should reach the $0.50 level with ease.

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