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XRP price: 'sell the news' moment nears after crypto-leading 20% weekly gain

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XRP whales have been accumulating since February with only days remaining until the SEC vs. Ripple lawsuit could reach its potential conclusion.

XRP (XRP) price is currently outperforming all other major cryptocurrencies as of March 27, rising over 20% in the past seven days.

77401d02-dc1d-4927-8f19-bbee589119f9.pngXRP/USD daily price chart. Source: TradingView

XRP accumulation ahead of SEC vs. Ripple ruling

XRP has seen steady gains over the past seven days as the ongoing legal quandary between Ripple and the U.S. Securities and Exchange Commission (SEC) is expected to conclude by the end of March.

Meanwhile, the supply of XRP held by addresses with a balance between 10 million and 100 million tokens has risen by over 1% since February. That coincides with a 0.75% drop in the XRP supply held by the 1 million-10 million address cohort.

a45b07a7-7628-4f34-87e0-a4060eeb498c.pngXRP balance in addresses holding between 1,000 and 100 million tokens. Source: Santiment

The addresses holding between 1,000 and 1 million XRP also increased their token holdings in the same period. That shows the XRP whales stacked up more tokens in the days leading up to the ruling on SEC vs. Ripple's so-called summary judgment.

Multiple observers, including legal expert John Deaton, see Ripple winning the case, arguing that the SEC may have failed to give the company a "fair notice" before suing it for committing securities fraud.

I have no doubt Ripple will win and the current Supreme Court will shut down the @SECGov’s gross overreach. The West Virginia EPA case is all you need to read to agree with me. @Ripple’s summary judgment brief is already an extremely well written appellate brief. https://t.co/o3g9zML9S2

— John E Deaton (@JohnEDeaton1) February 20, 2023

In recent months, Analisa Torres, the federal judge overseeing the lawsuit, has also favored Ripple on various motions. For instance, she has approved Ripple's demand that the SEC makes its internal emails and documents regarding cryptocurrencies public, which may prove that the regulator unfairly targeted the company.

25% XRP price pullback in April?

From a technical perspective, the XRP/USD rally has brought the pair near a resistance confluence zone, which may lead to bearish reversal in the coming weeks.

The confluence comprises of a multi-year descending trendline (black), a 200-3D exponential moving average (200-3D EMA; the blue wave) and a support-turned-resistance horizontal level at around $0.50 (purple).

38b5f165-1d4a-4d6a-8b07-3d5736fbeb76.pngXRP/USD three-day price chart. Source: TradingView

In addition, XRP's three-day relative strength index (RSI) eyes a close above its overbought threshold of 70, adding to the bearish case for April.

Related: Will BTC ditch the bear market? 5 things to know in Bitcoin this week

In the case of a pullback, the XRP price's next downside target appears at its multi-month ascending trendline support (black) around $0.35, down about 25% from current price levels.

On the other hand, a breakout above the descending trendline will have XRP price eyeing $0.60 as the next upside target.

This level has served as support in December 2021 and January 2022 — and as resistance in the September-October 2022 session. It is also the target of a prevailing bull pennant structure.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Source

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  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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