XRPUSD Daily Outlook (chart of the day)

Ripple surged sharply after Ripple won partially in SEC lawsuit. According to CEO of Ripple Brad Garlinghouse

The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that it had overplayed its hand. We respect the Court’s decision and have the clarity to continue growing our company. This is a victory for Ripple, the industry, and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone.

Ichimoku analysis (4- hour chart)

Tenken-Sen- $0.5680

Kijun-Sen- $0.53710

Horizontal trend line- $0.750

Downtrend channel resistance- $0.680

XRPUSD has performed well after a minor weakness.

Any daily close above $0.830 confirms further bullishness.

XRPUSD prices have surged more than 50% in the past three days. It hit a high of $0.64304 and is currently trading around $0.60827

92. The pair holds above the short-term (21 and 55-day EMA) and the long-term moving average (200-day EMA).

The near-term resistance is around $0.6800, any indicative breach above will take the pair to $0.75/0.820/0.900/$1. On the lower side, immediate support is $0.5750, and any violation below targets $0.53/$0.45/$0.40.

Indicators ( 4- hour chart)

Directional movement index - Neutral

It is good to buy on dips around $0.55 with SL around $0.40 for TP of $1.

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