Optimism From the SEC vs. Ripple Case Helps XRP Climb up $0.40

On 27th November, XRP increased by 0.13%. XRP concluded the week up by 9.91% to $0.39676 to partially reverse a loss of 2.93% from Saturday. Notably, XRP returned to $0.42 for the first time since November 8.

Weekly chart for BTC/USDT (Source: CoinMarketCap)

After the day’s positive start, XRP soared to $0.42300. XRP overcame the First Major Resistance Level (R1) at $0.4089 and the Second Major Resistance Level (R2) at $0.4217.

But an unexpected turn in the crypto market caused XRP to drop to a low of $0.39468. XRP ended the day at $0.39656 after avoiding the First Major Support Level (S1) at $0.3880.

The latest COVID-19 shutdown measures reportedly sparked protests across China, negatively impacting XRP and the whole crypto market.

In the closing hour of the Sunday session, XRP and the broader market reversed.

The sudden protests worry about the government’s response and the effects of the lockdown on the economy and international supply lines. As investors wait for the court filings on November 30, XRP has become more volatile in response to negative occurrences.

Investor confidence in the resolution of the ongoing SEC vs. Ripple lawsuit has improved, increasing the price of XRP to $0.42.

However, as protests continue to occur in China, the price of XRP has been impacted and is currently trading at $0.39656.

According to investors, updates about the FTX news, any filings or decisions from the court in the SEC vs. Ripple case, or China and the world indexes will determine the direction of price movement today.

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