How Could XRP Price Surge with the Upcoming Ripple vs. SEC Lawsuit Deadline?

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XRP, the native token of Ripple, has maintained its position above the $0.62 mark following a recent downward movement in its price. This stability comes amid significant events within the XRP ecosystem, such as the Digital Asset Summit and the looming deadline in the legal battle between Ripple and the SEC.

Key Events to Change the XRP Dynamics 

Digital Asset Summit: In this context, one of the highly anticipated events is the Digital Asset Summit, where Ripple CEO Brad Garlinghouse is scheduled to speak. His comments, especially on regulatory clarity in the crypto space, are expected to attract market participants. Ripple’s Senior Vice President Markus Infanger will also join a panel discussion on crypto payments, further adding to the event’s potential impact on XRP’s market sentiment.

XRP Gold Coast conference: Next up on the list for XRP holders is the upcoming XRP Gold Coast conference, featuring prominent figures such as pro-XRP lawyer John Deaton and pro-crypto attorney Bill Morgan. Discussions at this conference could provide insights into the future trajectory of XRP’s price and overall sentiment within the community.

Data says XRP Price Rally, If? 

On-chain data tracker Santiment revealed metrics tracking XRP’s supply on exchanges and the number of active addresses has declined. This shows a reduction in trading activity and possibly a shift in market dynamics. However, a decrease in supply on exchanges typically indicates lower selling pressure, which can support price stability or upward movement.

XRP Price Analysis

XRP is stagnant in the range of $0.60 to $0.63, with expectations of a notable rally ahead. While technical parameters like the Awesome Oscillator (AO) and Relative Strength Index (RSI) hint at a possible correction, analysts believe in XRP rise. Overall they argue, that if XRP manages a daily close above the $0.62 mark, it could trigger a bullish rally toward the recent high of $0.74. However, if it fails to maintain $0.62 it might trigger a downtrend, falling at the $0.57 support level. Investors are advised to monitor these key levels closely for potential trading opportunities.

On the top, XRP bulls are currently fighting hard to regain control of the $0.63 20-day SMA.

What Next? 

According to Dark Defender April will be exciting for XRP, especially for the Bitcoin halving event, which can trigger the XRP’s value to over $1 either before or after this significant milestone. However, Ripple’s legal battle with the SEC continues to influence XRP’s trajectory, with the final courtroom showdown scheduled for April 23. Ripple’s recent legal victories have added to the anticipation within the crypto community, amplifying the significance of the upcoming legal proceedings for XRP’s future.