As of March 27th, the price of XRP (XRP) mainly outperformed any other key digital currency, rising by more than 20% in the past seven years.

XRP accumulation prior to SEC and Ripple decisions

XRP has risen steadily over the past seven days, as the ongoing legal and regulatory dilemma between Ripple and the Securities and Exchange Commission (SEC) is scheduled to end at the end of March.

In addition, the supply of XRP held at intermediate addresses with account balances between 10 million and 100m has increased by more than 1 per cent since February. In addition, the XRP supply held by 1 million to 10 million detailed address sequences decreased by 0.75 per cent.

During the same period, holding 1000 to 1 million XRP addresses also increased his token holdings. This suggests that XRP dolphins deposited more tokens in the period prior to SEC's ruling on Ripple's so-called summary ruling.

A number of observers, including experts and scholars John Deaton, believe that Ripple obtained the dispute and they made up lies, and that SEC may not be able to give the company a "fair and impartial notice" before suing the company for securities fraud.

Over the past six months, Anashali Shevchenko, the presiding judge of the federal government, has also applied Ripple in a variety of resolutions. For example, she approved the need for Ripple to publish structural e-mails and documents of its related digital currency, which may confirm that regulators are unfairly targeting the company.

The price of XRP was adjusted by 25% in April?

Professionally speaking, the rise in the XRP/ dollar brings these currencies close to the friction zone, which could cause a bearish reversal in the coming weeks.

The catchment consists of a multi-year downward trend line (black), a 200-3D index moving average (200-3D daily moving average; blue waves), and the support level around $0.50 becomes a resistance level (blue-purple).

In addition, the XRP's three-day relative strength index (RSI) closed above the 70% overbought mark, adding to the bearish market in April.

In the adjusted case, the last overall target for the decline in XRP prices is at the uptrend line support (black) around $0.35, which is about 25 per cent lower than total demand at this stage.

On the other hand, the upward and downward trend line will lead to XRP prices tightly around $0.60 as the next overall upward target.

This level has been the support level in December 2021 and January 2022-both resistance levels from September to October 2022. It is also the target of the popular Niuqi structure.