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Crypto Markets Turned A Little Green Sept 22 As Bitcoin (BTC) Price Rises 4.7% To Trade Above $19,300 And Ether (ETH) Rises 6.5% To Retake $1,300 Levels Shining.
RSR and Astar Network (ASTAR) also surged 23% and 17% respectively, but the more notable move of the day was XRP.
XRP’s price is currently reflecting a nearly 25% gain, with the asset gaining 41% over the past month. On Sept. 18, Ripple Labs filed a motion for summary judgment, according to his defense attorney James K. Filan. Whether or not XRP is a security is expected by mid-December.
#XRP Community #SECGov v. #Ripple #XRP 1/2 The parties have filed a request to file a third-party motion sealing a portion of the parties’ summary judgment submission pursuant to a court order dated September 12, 2022. pic.twitter.com/J6rbeRXmHi
James K. Filan 113k (Don’t impersonate) (@FilanLaw) September 19, 2022
The excitement over this news could improve investor sentiment regarding XRP’s long-term prospects.
RELATED: Cryptos and Stocks Weaken Before Fed Rate Hike, but XRP, ALGO, LDO Look ‘Interesting’
From a technical analysis perspective, XRP price is trying to secure a double-day close above the long-term downtrendline resistance, while futures contract volumes and open interest have surged over the last 24 hours. I’m here.
Marcel Peckmann, Market Analyst at Cointelegraph, said:
XRP open interest has increased from $310 million just a week ago to $575 million today.
Traders who have yet to take their positions may consider waiting to see if the 200-day moving average at $0.49 finds support in the next few days’ closes. Day traders and swing traders typically profit at long-term resistance levels. We also expect price refusal and retesting of support after the asset manages a long period of consolidation, price troughs, or breakouts from market restructuring moves.
Crypto analytics data provider TheKingfisher made a similar point by suggesting that buyers likely have opportunities to go long XRP cheaply.
you will probably have the opportunity to lengthen $XRP Lower if that’s what you’re looking for
DON’T FOMO, LONGER LONG CLEARANCE https://t.co/jmaCFVVOvn pic.twitter.com/TP9SW6OmXOKingfisher (@kingfisher_btc) September 22, 2022
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. All investment and trading movements involve risk. You should do your own research when making a decision.
