After gaining the $0.42 resistance level and turning it into support, XRP experienced a nice momentum with the court news and rose to $0.58 levels. However, it has not been able to maintain its position above the first resistance area at $0.55.
I recommend those following XRP to closely monitor developments in the court process. John Deaton, Ripple’s lawyer, recently stated that the postponement of the court process is to allow for a fairer decision.
The XRPBTC pair appears to have turned the falling trend level into support after breaking it. While I believe that positive news from the court could present good opportunities, a negative update could also result in sharp declines.
For this reason, I recommend those following XRP to keep an eye on news coming from the court.