XRP price has revived nearly 40% of its July low
XRP Price has been getting rejected at its major resistance zone
60 MA is attempting to hold as support
XRP Price Overview
XRP price has revived fairly well off its low set in late July. Prices have risen nearly 50% over the past two weeks as XRP struggles to break its major resistance zone of $0.77. Ripple has been battling the SEC over the last 8 months over a lawsuit regarding XRP being sold as a security or not. Despite this, XRP is still trading within the markets averages as other coins have had a lesser revival. The overall market is flashing signs that some type of bull trend is here after months of downtrending.
Over the last 2 weeks, XRP price has formed an ascending channel formation. Within the past day, price has fallen below this channel, breaking the bottom uptrend line. This is a short term bearish scenario as price has already fallen near -5%. At the time of writing, XRP is sitting on its minor support of $0.707.