Ripple (XRP) extended gains by nearly 2% early on Sunday. XRP sustained above the psychological price level of $0.60 amidst the optimism of Donald Trump’s speech at the Bitcoin conference, and BTC’s recent gains.
Ripple active addresses doubled over the weekend, signaling a rise in activity among traders, per Santiment data. XRP traders have consistently taken profits in the altcoin in the last two weeks, increasing selling pressure on the altcoin. XRP sustained above key psychological support at $0.60, extending gains by nearly 2% on Sunday. Ripple proponents expect a ruling in the SEC lawsuit by the end of July, per the comments of attorney Fred Rispoli.
While the momentum is likely fading, there is likelihood of a recovery in XRP once the altcoin collects liquidity. XRP/USDT daily chart A daily candlestick close under support at $0.5632 could signal a bearish thesis for XRP. XRP could find support at the July 19 low of $0.5404. SEC vs Ripple lawsuit FAQs Is XRP a security? It depends on the transaction, according to a court ruling released on July 14: For institutional investors or over-the-counter sales, XRP is a security.
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