XRP continues to gain traction amid positive technical signals and anticipation of the SEC meeting results. Analysis suggests a potential breakout.
Technical Analysis of XRP
Technical analyst EGRAG CRYPTO has outlined a bullish setup for XRP using the Super Guppy Indicator on the weekly chart. This indicator recently showed a twist in its moving averages, often a sign of an upcoming trend reversal. According to EGRAG, XRP’s current positioning appears stronger than when the token was priced at $0.55.
> "When XRP was 0.55, I kept on posting and having a super positive stance. Now we are in much more bullish phase than 0.55." — EGRAG CRYPTO.
Expectations from SEC Meeting
The U.S. Securities and Exchange Commission (SEC) has scheduled a closed-door meeting for July 10 at 2:00 p.m., sparking speculation about a possible conclusion to the XRP lawsuit. The agenda will cover litigation claims, settlements, and injunctive actions, all directly relevant to the Ripple case.
> "BREAKING: SEC CLOSED-DOOR MEETING SET FOR JULY 10 - COMMISSIONERS TO VOTE ON DROPPING RIPPLE LAWSUIT APPEAL." — STEPH IS CRYPTO.
Current Market Situation
At the time of writing, XRP is trading at $2.30, showing a 1.3% daily gain. This price action reinforces the growing optimism among traders and analysts tracking both the technical setup and legal developments.
XRP displays strong bullish signals amid positive expectations from the SEC meeting, which may foster further price growth.
