Ripple News Today: Is XRP’s Bullish Run Over? Will August Be a Bearish Nightmare?

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The post Ripple News Today: Is XRP’s Bullish Run Over? Will August Be a Bearish Nightmare? appeared first on Coinpedia Fintech News
After closing the last three weeks with a bullish outlook, Ripple Labs-backed XRP will likely end the first week of August in bearish sentiment. The large-cap altcoin, with a fully diluted valuation of about $57.6 billion and a daily average traded volume of around $2 billion, has faced an immense resistance level of around 64 cents in the past year.
Notably, the 64 cents resistance level is nostalgic for the XRP global community since it is the level of capitulation after the US SEC charged Ripple with violating securities laws in Q4 2020.
A successful and consistent close above the resistance level of around 64 cents will pump the XRP price against the US dollar to nearly its all-time high. Such a bullish scenario will only happen after the ongoing lawsuit is concluded in favor of Ripple and the XRP market in the United States.
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