• XRP currently stands at $0.372400, having risen by 1.2% in the past 24 hours and 9.5% since the start of the year.
• Ripple CEO Brad Garlinghouse has disclosed that the company expects no disruption to its day-to-day business due to its exposure to Silicon Valley Bank.
• XRP’s indicators currently find themselves in a promising position with potential for a breakout rally, while it is primed for an above-average climb in the near future due to an end to Ripple’s case with the SEC.
XRP Price Analysis
Current Price Action
The XRP price stands at $0.372400 this morning, having risen by 1.2% in the past 24 hours in the context of a 2% increase for the market as a whole. Its current price means that XRP has fallen by 2% in a week and by 1% in the last 30 days, although the altcoin has gained by 9.5% since the start of the year.
Ripple’s Exposure to Silicon Valley Bank
While Ripple had reported some exposure to Silicon Valley Bank, which was placed under federal receivership on Friday, CEO Brad Garlinghouse disclosed that the company expects no disruption to its day-to-day business due to this news. This seems to have steadied XRP’s price action in recent days while also benefiting along with other cryptos from federal intervention during this banking crisis period.
SEC Decision Awaited
Ripple is awaiting a decision regarding its case with SEC later this year, which could potentially lead to some of biggest gains for any major token over subsequent months if it yields favorable results for Ripple or both parties reach a settlement agreement without any further proceedings against them .
Indicators Support Potential Rally
XRP’s indicators currently find themselves in a promising position, with its 30-day moving average (red) looking as though it could begin rising toward its 200-day (blue). Such an occurrence would indicate a breakout rally and be supported by XRP’s relative strength index (purple), presently found within an oversold position suggesting it’s due for correction into more bullish territory soon enough..
Overall there are various reasons why XRP is primed for an above-average climb such as concerns over Ripple’s exposure being muted and potential end of their case with SEC leading up favorable judgment or settlement agreement between both parties . Indicators further support this notion of breakout rally thus making it likely that coin will move higher in coming days and weeks