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Analyst: The US court ruling is expected to be favorable for XRP, potentially opening a pump channel.
Gate News bot reported that FXEmpire analyst Bob Mason stated that on June 15 (Sunday), Ripple (XRP) rose 1.18%, reversing Saturday’s fall of 0.33%, closing at $2.1670. The token outperformed the market, which rose 0.43%, bringing the total market capitalization of Crypto Assets to $2.25 trillion. The expectation of a favorable ruling boosted the demand for Ripple.
The recent outlook for XRP depends on the ruling by US Judge Torres, the SEC’s appeal plans, and news related to ETFs. A breakthrough of $2.20 may indicate that it will move towards the 50-day moving average (EMA). Continued breakthroughs of the 50-day moving average (EMA) may open up a rising channel, breaking through $2.50 and the high of $2.6553 on May 12.
However, breaking below the 200-day moving average (EMA) may lead bears to target support levels below $2 and at $1.9299.
Source: FXEmpire