Crypto Mania

XRP Striving Hard to Climb After Finding Support at $0.60 Level

  • At the time of writing, XRP is trading at $0.6148, up 0.26% in the last 24 hours.
  • If the price manages to go above $0.62 level, then it will likely climb further to test $0.63.

Pro-XRP lawyers John Deaton and Bill Morgan have recently demanded that Congress step in and investigate the SEC’s behavior and the Republican members of the House Committee on Financial Services’ unwillingness to issue a subpoena.

A federal court scolded the SEC’s attorneys in a case involving a crypto firm on Friday, December 1, 2023, giving yet another legal setback to the US SEC. Claiming that the SEC had made up “materially false” assertions to have assets seized, the court supposedly slammed the agency for how it handled the company’s assets.

John E. Deaton sent a pleading appeal to Republican members of the United States House Committee on Financial Services, particularly to Chairman Patrick McHenry.

Bulls Striving Hard

Since the XRP price has managed to float above the $0.60 psychological level, it likely has the necessary momentum to break through further. With a partial victory against the SEC and Bitcoin’s halving cycle set to take place in 2024, XRP likely has the potential to take off. The token’s price has dropped more than 80% from its all-time high set in January 2018.

At the time of writing, XRP is trading at $0.6148, up 0.26% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is down 16.73%. The XRP price recently found support at $0.60 on November 28. Post finding support the price rebounded, only to face resistance at $0.62 level.

If the price manages to go above $0.62 level, then it will likely climb further to test $0.63 resistance level. On the other hand, if the bears drive the XRP price below the $0.60 level, then it will likely decline further to test the $0.58 support level.

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