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Ripple (XRP) Price Predictions for This Week

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xrp_price_chart_1103261

XRP appears to be consolidating before its next major move.

Ripple (XRP) Price Predictions: Analysis

Key support levels: $1

Key resistance levels: $1.4

XRP is Consolidating Around $1.4

Over the past few weeks, XPR has been moving flat around $1.4, currently acting as key resistance. This price consolidation around this level can be interpreted as bullish since sellers were unable to secure a lower low.

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This price action is encouraging buyers to return, and the current weekly candle is green. If it closes the week like this, then the resistance will likely break and turn into a key support.

xrp_price_chart_1103261
Source: TradingView

Downtrend Over?

With sellers unable to push the price lower, XRP has been moving sideways. This is a key signal that the market structure may be about to change. This makes a reversal possible in the future.

While buyers still appear shy here, they are slowly gaining momentum. This will likely be amplified as soon as the $1.4 resistance falls. Should they fail, then XRP has solid support at $1.2 and $1.

xrp_price_chart_1103262
Source: TradingView

MACD Bullish Cross

The 3-day MACD crossed bullish, which is a major signal that momentum is turning bullish. If this is sustained in the coming week, then higher price levels appear inevitable.

A clean break above $1.4 will also open the way for XRP to test the $1.6 and $1.8 resistance levels next. Bears will be in serious trouble at that point because it opens the way for this cryptocurrency to retest $2.

xrp_macd_chart
Source: TradingView
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Crypto World

SEC, CFTC Handshake on Memo to Regulate Markets in Harmony

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SEC, CFTC Handshake on Memo to Regulate Markets in Harmony

Two of the US’s most influential financial regulators have agreed to better coordinate oversight of the financial markets, seeking to put an end to decades of “regulatory turf wars” between them.

According to the memorandum of understanding written on Wednesday, the US Securities and Exchange Commission and US Commodity Futures Trading Commission said it has become a “pivotal time” to regulate in harmony as new technologies, such as crypto, make it more challenging to monitor the markets:

“New trading models, digital infrastructure, and onchain, automated systems increasingly blur traditional jurisdictional lines,” they said, particularly as market participants operate across platforms and asset classes.

To address that problem, the SEC and CFTC said they will aim to provide regulatory clarity and certainty built on technology-neutral regulations and share information and data concerning issues of “common regulatory interest” to fulfill their respective regulatory mandates.

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In a separate statement, SEC chair Paul Atkins said the memo is the latest step toward repairing the relationship between the agencies: 

“For decades, regulatory turf wars, duplicative agency registrations, and different sets of regulations between the SEC and CFTC have stifled innovation and pushed market participants to other jurisdictions.”

Source: Mike Selig

Both the SEC and CFTC have made strides to deliver on US President Donald Trump’s mission of making the US the “crypto capital of the world,” having set up a crypto-specific task force and established an advisory committee to ensure crypto, AI and other emerging tech innovations continue to push forward in the US.