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XRP Forming a Tight Trading Range

Written By: ChartChamp

October 10, 2024

The XRP news has been a mix of good and bad. The SEC lawsuit is still an ongoing case for XRP after the recent SEC appeal. At the same time there are companies filing for XRP ETFs. The price action has been neutral within a tight range between the two yellow trendlines, which gives a range between $0.54 and $0.61. XRP is currently trading below support around $0.53, which is a bearish sign. These are 1 week candles and XRP could trade within this range for the remainder of 2024. I think the news will determine XRP’s direction. The SEC will determine XRP’s fate with the lawsuit and by approving or rejecting XRP ETFs. The presidential election will also be important for determining the U.S. government and SEC become more crypto friendly.

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