Court ruling favoring Ripple executives and slapping down SEC catapults XRP — now the world’s 4th most popular crypto — to its highest prices in 3 years.
Ripple’s XRP surged by 113.1% in the week ending 11th April. Following on from a 1
rally from the previous week, Ripple’s XRP ended the week at $1.35243.
A mixed start to the week saw Ripple’s XRP fall to a Monday intraweek low $0.62015 before making a move.
Steering clear of the first major support level at $0.5619, Ripple’s XRP surged to a Sunday intraweek high and a new swing hi $1.49667.
Ripple’s XRP broke through the week’s major resistance levels to wrap up the week at $1.35 levels.
XRP was trading at $1.32462 by 21:34 (16:04 GMT) on the Investing.com Index on Saturday, up 30.86% on the day. It was the largest one-day percentage gain since Monday, April 5, 2021.
Ripple’s XRP would need to avoid a fall through the 23.6% FIB of $1.1841 and the pivot level at $1.1564 to support a run at the first major resistance level at $1.6927.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from last week’s new swing hi $1.49667.
Barring another extended crypto rally, the first major resistance level and resistance at $1.70 would likely cap any upside.
In the event of another extended breakout, Ripple’s XRP could test resistance at $2.00 before any pullback. The second major resistance level sits at $2.0329.