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The project has experienced some positive developments in its fundamentals including the decision from the U.S. Securities and Exchange Commission (SEC) to drop its case against Ripple.
Meanwhile, its stablecoin RLUSD has seen its market cap grow by more than 500% since it was launched as it has secured key listings and partnerships along the way.
Nevertheless, none of these catalysts have resulted in a significant climb to the $3 level, which is a key psychological resistance and a major target for XRP bulls.
Moving forward, the $2 level seems to be the most relevant support to watch if XRP experiences a pullback at this point. Momentum indicators favor a bullish outlook but have been a bit stalled as the Relative Strength Index (RSI) is hovering slightly above the signal line.
A bullish target in the near term would be the $2.7 level but the price will have to first clear the $2.4 area as this is a high-volume threshold that bulls have not yet captured and where XRP could encounter significant selling pressure if bearish sentiment persists.
ADA Hits Critical Resistance
Cardano has been recovering in the past few days after bouncing off the $0.510 support, which was our most recent bearish target a few weeks ago.
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