Ripple (XRP) is being accumulated by large wallet investors as XRP holders await a court ruling in the Securities and Exchange Commission’s (SEC) lawsuit against the firm.
Ripple whales, holding between 1 million and 10 million XRP, continued accumulating in May. XRP holders digested the developments in the SEC vs. Ripple lawsuit and await court rulings. XRP is likely to extend gains to $0.60, testing resistance at $0.51 on Thursday. Ripple is being accumulated by large wallet investors as XRP holders await a court ruling in the Securities and Exchange Commission’s lawsuit against the firm.
The green bars above the neutral line on the Moving Average Convergence Divergence indicator support XRP gains. RSI, a momentum indicator, reads 48.47, inching closer to the neutral zone at 50, signaling an increasing balance between bullish and bearish positions. XRP/USDT 1-day chart If the XRP price fails to break past resistance at $0.53, the altcoin could sweep liquidity at $0.4665, a support level respected on the weekly XRP/USDT chart.
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