Krutika Adani
XRP has been one of the fastest-recovering cryptocurrencies after the fall, having recovered 18% since its August lows.
As the case with the SEC ends, Ripple has to pay only 6% of the $2 billion fine i.e., $120 million.
Due to this prolonged legal case, the price of XRP has hardly moved in the past two years.
In the last nine days, the daily charts of XRP have seen the formation of a bullish pennant.
XRP has mild resistance at $0.61, followed by $0.72, above which it may form a high in 2024. On the downside, $0.55 is a very strong support zone.