Here's When SEC Rescheduled the Meeting About Ripple as XRP Price Pumps

The U.S. Securities and Exchange Commission (SEC) has rescheduled a closed meeting for July 25, 2024. The rumors in the crypto community are still that this meeting is about Ripple and a potential settlement with them.

The U.S. Securities and Exchange Commission (SEC) has rescheduled a closed meeting for July 25, 2024. Rumors within the crypto community suggest that this meeting may pertain to Ripple and a potential settlement. Earlier this week, the SEC had canceled the meeting.

Meanwhile, XRP price continues to surge, with an 8% increase noted today. The token is recovering from losses incurred over the past few days and is now trading around the $0.6 mark.

Earlier this week, XRP price faced rejection at this level. Notably, the token surged by over 57% this month, moving from $0.4 to $0.63. These gains come amid news regarding the SEC, which appear to have contributed to the price pump.

Renowned cryptocurrency YouTubers, such as Cryptoinsightuk, have analyzed and commented on XRP's recent price action.

In an update from Vienna, Cryptoinsightuk provided an analysis of XRP's performance and its potential to trigger a broader altcoin rally.

According to his observations, XRP's impressive 50% surge over the past week is only the beginning. He highlights signs of overbought conditions on the daily timeframe, indicating a potential short-term pullback. However, on the hourly and 4-hourly charts, the outlook appears mixed but generally positive.

Cryptoinsightuk identifies key levels for XRP when charting it against both Bitcoin and Ethereum. A daily close above 0.692 BTC or 0.00001934 ETH could signal an upward movement for XRP, potentially sparking what many in the crypto space refer to as an “altseason.”

The video also delves into XRP's historical patterns, noting that the token tends to experience substantial price jumps after periods of consolidation. If these patterns hold true and XRP breaks through key resistance levels, Cryptoinsightuk suggests we could see a move towards the $1.20-$1.28 range in the near term.

Even more intriguing are the long-term projections presented in the video. Cryptoinsightuk speculates that if XRP can break above previous resistance levels, we could potentially see prices reaching the $13-$18 range in the long term. However, it's crucial to remember that such projections are speculative and subject to numerous market factors.

The above is the detailed content of Here's When SEC Rescheduled the Meeting About Ripple as XRP Price Pumps. For more information, please follow other related articles on the PHP Chinese website!