XRP shows mixed performance in the market. Although it gained 3% in the last day, it dropped 9% over the week.
Current XRP Trends
With a market cap increase of 3.47% to $128 billion, XRP is still under pressure from sellers. Trading volume decreased by 25% in the past 24 hours. The Relative Strength Index indicates the cryptocurrency is oversold, suggesting a potential reversal.
Head & Shoulders Pattern Analysis
Crypto analyst Hope Theory on X highlighted a Head & Shoulders pattern on XRP's chart, noting that this trend is still valid and predicts a potential drop in price to $0.5.
Impact of Ripple Lawsuit
The Ripple vs. SEC court case continues to exert pressure on XRP's price. A positive outcome in court could boost the cryptocurrency's trajectory, while a negative result might cap further price growth.
XRP remains a focal point for analysts and traders due to its complex dynamics and external factors. The ultimate price direction is uncertain and hinges on market forces and legal outcomes.
