XRP Price Analysis 14/07: XRP Court Win Ignites Crypto Frenzy, Sparks Price Surge – Investor Bites

SNEAK PEEK

• XRP court ruling sparks crypto enthusiasm, igniting price surge.
• Coinbase’s XRP trading revival fuels market excitement and acceptance.
• XRP’s bullish trend continues, signaling potential entry opportunities.

Coinbase, a prominent cryptocurrency exchange, has reinstated XRP trading on its platform. Users in supported regions can now conveniently engage in XRP transfers and take advantage of trading opportunities facilitated by Coinbase and Coinbase Exchange. This move aligns with Coinbase’s commitment to providing users with a seamless trading experience on the XRP network.

Coinbase will re-enable trading for XRP (XRP) on the XRP network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset remain available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets 🛡️ (@CoinbaseAssets) July 13, 2023

Alternatively, in a recent tweet, James K. Filan, a Defense lawyer, and former federal prosecutor, expressed the excitement of crypto enthusiasts following a court ruling that clarified XRP’s regulatory status as not always being classified as a security. This recent court ruling is considered a significant victory for XRP enthusiasts.

#XRPCommunity #XRP “Crypto bulls are thrilled by court ruling that XRP isn’t always a security.”https://t.co/XIbzwgqvxQ

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) July 13, 2023

As a result, the XRP market has experienced a surge in excitement, causing the price to escalate from its intraday low of $0.4707 to a 52-week high of $0.8875 within the past 24 hours. The price is presently at $0.7702, reflecting the continued increasing trend. Throughout this bullish rise, XRP’s market capitalization increased by 63.60% to $40,635,571,129, while its trading volume increased by 1668.45% to $12,949,332,396 in the last 24 hours.

On the 4-hour price chart for XRP, the Aroon up and down figures are 71.43% and 28.57%, respectively. This move indicates that the trend is robust and likely to continue for some time, despite the possibility of fleeting reversals, allowing traders to identify potential entry and exit points. 

The Keltner Channel bands on the 4-hour price chart for XRP point north with upper and lower values of 0.7156 and 0.4958, respectively, indicating a bullish trend. Traders may buy XRP now with a sell price target near the upper Keltner Channel.

The bullish trajectory is supported by the development of green candlesticks on the XRP price chart and the price movement above the upper band. Traders should be wary of potential resistance levels and implement a stop loss to minimize risk if the bull’s strength wanes.

The Bollinger bands have widened, with upper readings of 0.8077 and lower readings of 0.5457, indicating high market volatility. Soon, investors should anticipate a significant price fluctuation. The XRP market has a distance between its upper and lower bands of 0.262, indicating moderate market volatility. 

With a reading of 266.2987 and a movement above its signal line, the Know Sure Thing (KST) indicates that the market is gaining bullish momentum. If the KST line crosses below the signal line, which may be a sell signal, investors may consider selling existing long positions or initiating new ones.

In conclusion, XRP’s court victory and Coinbase’s support fuel a surge in price, igniting excitement and paving the way for broader acceptance in the crypto world.

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.

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• Source: https://investorbites.com/xrp-price-analysis-14-07/