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Despite these concerns, Morgan remained optimistic about the possibility of a future multi-crypto Strategic Reserve Asset, stating:
“I am sure the Trump administration and David Sacks will consider this and other factors and risks over time.”
XRP Price Trends: Focus Returns to the SEC Appeal and XRP-Spot ETF Developments
Following Trump’s SBR Executive Order, XRP’s near-term trajectory hinges on two crucial factors: the SEC’s appeal strategy and potential XRP-spot ETF approvals.
- Bullish Scenario: If the SEC withdraws its appeal, XRP could break above its all-time high of $3.5505. Approval of XRP-spot ETF applications may further boost XRP demand, potentially pushing it toward $5 on institutional demand.
- Bearish Scenario: The SEC pursues its appeal and disapproves XRP-spot ETF applications, sending XRP below $1.5.
XRP Price Action
Daily Chart
XRP has recorded two straight days of losses, trading below the 50-day Exponential Moving Average (EMA) but above the 200-day. The EMAs send bearish near-term and bullish longer-term price signals.
A break above the 50-day EMA, bulls may target the March 2 high of $3.0153 as the next resistance level. A return to $3.0153 could signal a move toward the January 16 high of $3.3999. Favorable Ripple case-related news may bring the all-time high of $3.5505 into play.
Conversely, a drop below the March 4 low of $2.2202 could bring sub-$2 levels and the $1.9299 support level into sight. A fall through the $1.9299 support level may enable the bears to target the February 3 low of $1.7024 next.
With a 14-day Relative Strength Index (RSI) reading of 45.45, XRP could fall to the $1.9299 support level before entering oversold territory (RSI below 30).
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