High expectations for Ripple's price rise.
Ripple's price has rebounded. The currency has risen 8.8%
to trade near $2.37 per coin. This new rise comes after recent positive developments
in the legal dispute between Ripple and the Securities and Exchange Commission (SEC).
The settlement resulted in a $50 million fine, reduced from the initial $125 million fine.
This strong rise reflects traders' expectations for a future price rise,
which was also reflected in the high trading momentum in recent trading weeks.
Technically:
If the price breaks and closes above the $2.58 resistance level,
we may see a strong rise towards the next resistance level at $2.83.
The demand zones at the 2.218 level are also strong buying areas.
If they are reached, it will be a good opportunity to buy the currency again.
