{"id":26666,"date":"2023-07-19T23:28:51","date_gmt":"2023-07-20T02:28:51","guid":{"rendered":"https:\/\/tiproject.online\/index.php\/2023\/07\/19\/xrp-bulls-eye-0-90-on-momentum-as-gensler-says-silent-on-an-appeal\/"},"modified":"2023-07-19T23:28:51","modified_gmt":"2023-07-20T02:28:51","slug":"xrp-bulls-eye-0-90-on-momentum-as-gensler-says-silent-on-an-appeal","status":"publish","type":"post","link":"https:\/\/tiproject.online\/index.php\/2023\/07\/19\/xrp-bulls-eye-0-90-on-momentum-as-gensler-says-silent-on-an-appeal\/","title":{"rendered":"XRP Bulls Eye $0.90 on Momentum as Gensler Says Silent on an Appeal"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div>\n<h3 id=\"key-insights\">Key Insights:<\/h3>\n<ul>\n<li><strong>On Wednesday, XRP led the crypto top ten, rallying 5.37% to end the day at $0.8202.<\/strong><\/li>\n<li><strong>Hopes of a settlement in the SEC v Ripple case gathered momentum mid-week, sending XRP to a session high of $0.8531.<\/strong><\/li>\n<li><strong>The technical indicators are bullish, supporting a return to $0.90.<\/strong><\/li>\n<\/ul>\n<p>On Wednesday,\u00a0<a href=\"https:\/\/www.fxempire.com\/crypto\/ripple\" target=\"_blank\" rel=\"noopener noreferrer\">XRP<\/a>\u00a0rallied by 5.37%. Following a 5.57% gain on Tuesday, XRP ended the day at $0.8202. Significantly, XRP ended the day at $0.82 for the first time since March 2022.<\/p>\n<figure id=\"attachment_1362513\" aria-describedby=\"caption-attachment-1362513\" class=\"wp-caption alignnone\"\/><\/div>\n<\/div>\n<div>\n<p><figcaption id=\"caption-attachment-1362513\" class=\"wp-caption-text\">XRPUSD 200723 Weekly Chart<\/figcaption><h2 id=\"xrp-price-action\">XRP Price Action<\/h2>\n<\/p>\n<\/div>\n<div>\n<div>\n<h2 id=\"daily-chart\">Daily Chart<\/h2>\n<p>The Daily Chart showed XRP\/USD sitting below the $0.8400 \u2013 $0.8600 resistance band. However, XRP sat well above the 50-day ($0.5503) and 200-day ($0.4784) EMAs, sending bullish near and longer-term price signals.<\/p>\n<\/div>\n<\/div>\n<div>\n<div>\n<p>Notably, the 50-day EMA pulled away from the 200-day EMA and reflected bullish momentum over the near term.<\/p>\n<p>Despite retreating from a Thursday high of $0.9337, XRP\/USD avoided sub-$0.77 with the $0.7870 \u2013 $0.7737 support band delivering price support. However, a fall through the $0.7870 \u2013 $0.7737 support band would bring sub-$0.75 into play.<\/p>\n<p>Looking at the 14-Daily RSI, the 75.94 reading signals XRP in overbought territory. However, the EMAs signal a run at $0.90. Steering clear of sub-$0.80 will be important in the coming sessions.<\/p>\n<figure id=\"attachment_1362514\" aria-describedby=\"caption-attachment-1362514\" class=\"wp-caption alignnone\"\/><\/div>\n<\/div>\n<div>\n<div><figcaption id=\"caption-attachment-1362514\" class=\"wp-caption-text\">XRPUSD 200723 Daily Chart<\/figcaption><h2 id=\"4hourly-chart\">4-Hourly Chart<\/h2>\n<p>Looking at the 4-Hourly Chart, the XRP\/USD faces strong resistance at $0.85. XRP\/USD sits below the upper level of the $0.8400 \u2013 $0.8600 resistance band.<\/p>\n<p>However, XRP sits above the 50-day ($0.7010) and 200-day ($0.5695) EMAs, sending bullish signals over the near and longer-term time horizons. Significantly, the 50-day EMA pulled further away from the 200-day EMA, supporting a move through the $0.8400 \u2013 $0.8600 resistance band to target $0.90.<\/p>\n<p>The 14-4H RSI reading of 69.65 sends bullish XRP price signals and aligns with the 50-day EMA, with buying pressure outweighing selling pressure. Significantly, the RSI signals near-term bullish momentum, supporting a breakout from the $0.8400 \u2013 $0.8600 resistance band to target $0.90.<\/p>\n<figure id=\"attachment_1362515\" aria-describedby=\"caption-attachment-1362515\" class=\"wp-caption alignnone\"\/><\/div>\n<\/div>\n<div>\n<div><figcaption id=\"caption-attachment-1362515\" class=\"wp-caption-text\">XRPUSD 200723 4 Hourly Chart<\/figcaption><h2 id=\"hopes-of-a-settlement-resonated-as-gensler-testified-in-capitol-hill\">Hopes of a Settlement Resonated as Gensler Testified in Capitol Hill<\/h2>\n<p>Settlement chatter in the SEC v Ripple case resonated on Wednesday. This week, Judge Sarah Netburn <a href=\"https:\/\/www.fxempire.com\/forecasts\/article\/xrp-bulls-eye-a-return-to-0-80-on-settlement-hopes-1362207\">issued<\/a> a Court Order calling on the SEC and Ripple to find three mutually convenient dates to schedule a settlement conference. The order is on the basis that both parties believe it would be productive at this time.<\/p>\n<p>Considering the incurred costs to date, the markets see a settlement as a viable option for the SEC to save face and force Ripple into paying fines for the illegal sale of XRP to institutional clients.<\/p>\n<p>However, SEC Chair Gary Gensler remains silent on settlement talks, leaving an appeal on the table.<\/p>\n<p>On Wednesday, the SEC Chair gave testimony at the Senate Subcommittee <a href=\"https:\/\/www.appropriations.senate.gov\/hearings\/review-of-the-fy-2024-budget-for-the-us-securities-and-exchange-commission\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">hearing<\/a> on the fiscal year 2024 budget, calling for additional funding to tackle the Wild West. Gensler requested $393 million to support the Commission\u2019s data analysis, cybersecurity, and other IT needs.<\/p>\n<p>The SEC Chair\u2019s prepared testimony did not reference the SEC v Ripple Court rulings.<\/p>\n<h2 id=\"the-day-ahead\">The Day Ahead<\/h2>\n<p>SEC v Ripple Court ruling-related chatter will remain the focal point. News of both parties providing the Court with mutually agreeable dates for a settlement conference would support another breakout session.<\/p>\n<p>However, we expect Binance and Coinbase-related news to move the dial.<\/p>\n<\/div>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.fxempire.com\/forecasts\/article\/xrp-bulls-eye-0-90-on-momentum-as-gensler-says-silent-on-an-appeal-1362512\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Key Insights: On Wednesday, XRP led the crypto top ten, rallying 5.37% to end the day at $0.8202. Hopes of a settlement in the SEC v Ripple case gathered momentum mid-week, sending XRP to a session high of $0.8531. The technical indicators are bullish, supporting a return to $0.90. On Wednesday,\u00a0XRP\u00a0rallied by 5.37%. Following a 5.57% gain on Tuesday, XRP ended the day at $0.8202. Significantly, XRP ended the day at $0.82 for the first time since March 2022. XRPUSD 200723 Weekly ChartXRP Price Action Daily Chart The Daily Chart showed XRP\/USD sitting below the $0.8400 \u2013 $0.8600 resistance band. However, XRP sat well above the 50-day ($0.5503) and 200-day ($0.4784) EMAs, sending bullish near and longer-term price signals. Notably, the 50-day EMA pulled away from the 200-day EMA and reflected bullish momentum over the near term. Despite retreating from a Thursday high of $0.9337, XRP\/USD avoided sub-$0.77 with the $0.7870 \u2013 $0.7737 support band delivering price support. However, a fall through the $0.7870 \u2013 $0.7737 support band would bring sub-$0.75 into play. Looking at the 14-Daily RSI, the 75.94 reading signals XRP in overbought territory. However, the EMAs signal a run at $0.90. Steering clear of sub-$0.80 will be important in the coming sessions. XRPUSD 200723 Daily Chart4-Hourly Chart Looking at the 4-Hourly Chart, the XRP\/USD faces strong resistance at $0.85. XRP\/USD sits below the upper level of the $0.8400 \u2013 $0.8600 resistance band. However, XRP sits above the 50-day ($0.7010) and 200-day ($0.5695) EMAs, sending bullish signals over the near and longer-term time horizons. Significantly, the 50-day EMA pulled further away from the 200-day EMA, supporting a move through the $0.8400 \u2013 $0.8600 resistance band to target $0.90. The 14-4H RSI reading of 69.65 sends bullish XRP price signals and aligns with the 50-day EMA, with buying pressure outweighing selling pressure. Significantly, the RSI signals near-term bullish momentum, supporting a breakout from the $0.8400 \u2013 $0.8600 resistance band to target $0.90. XRPUSD 200723 4 Hourly ChartHopes of a Settlement Resonated as Gensler Testified in Capitol Hill Settlement chatter in the SEC v Ripple case resonated on Wednesday. This week, Judge Sarah Netburn issued a Court Order calling on the SEC and Ripple to find three mutually convenient dates to schedule a settlement conference. The order is on the basis that both parties believe it would be productive at this time. Considering the incurred costs to date, the markets see a settlement as a viable option for the SEC to save face and force Ripple into paying fines for the illegal sale of XRP to institutional clients. However, SEC Chair Gary Gensler remains silent on settlement talks, leaving an appeal on the table. On Wednesday, the SEC Chair gave testimony at the Senate Subcommittee hearing on the fiscal year 2024 budget, calling for additional funding to tackle the Wild West. Gensler requested $393 million to support the Commission\u2019s data analysis, cybersecurity, and other IT needs. The SEC Chair\u2019s prepared testimony did not reference the SEC v Ripple Court rulings. The Day Ahead SEC v Ripple Court ruling-related chatter will remain the focal point. News of both parties providing the Court with mutually agreeable dates for a settlement conference would support another breakout session. However, we expect Binance and Coinbase-related news to move the dial. [ad_2] Source link<\/p>\n","protected":false},"author":1,"featured_media":26601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-26666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/26666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=26666"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/26666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/26601"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=26666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=26666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=26666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}