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September 7, 2023XRP price has been struggling to recover above certain resistance levels. Breaking a confluence resistance could spark a recovery in Ripple price. Here are some key points from the search results:
- Ripple price could start a recovery wave if it clears $0.510 and $0.525.
- Ripple price is likely to start a fresh rally once it clears the 100 hourly SMA and the $0.2460 resistance region.
- A daily close above the $0.412 resistance could start a strong surge in Ripple price.
- Ripple price could start another surge toward $0.90 if the bulls keep protecting the price from falling below $0.76 resistance.
- Breaking a confluence resistance could spark a recovery in Ethereum price.
- XRP price breaking this confluence resistance could spark a strong surge.
Therefore, breaking a confluence resistance could spark a recovery in Ripple price.
What are the factors affecting price Ripple
There are several factors affecting XRP price, as follows:
- Ripple’s development and legal status: Ripple’s partnerships and legal challenges play a crucial role in Ripple price.
- Supply and demand: The price of Ripple depends on the state of supply and demand in the market. The price rises when demand is high and falls when demand is low.
- Retail investor sentiment: Another factor impacting the price of rippel is retail investor sentiment.
- Regulatory uncertainty: Critics have concerns about regulatory uncertainty, which affects Ripple tprice.
- Centralisation: Critics also have concerns about XRP’s centralisation, which affects Ripple price.
- Coin distribution: Critics have concerns about XRP’s coin distribution, which affects Ripple price.
- SEC lawsuit: The US Security and Exchange Commission (SEC) is suing Ripple for $1.3 billion, which affects XRP price.
These factors, both bullish and bearish, are affecting Ripple currently.
Ripple’s legal status affects the price of Ripple in the following ways:
- Ripple’s legal challenges play a crucial role in XRP price. For instance, the US Security and Exchange Commission (SEC) is suing Ripple for $1.3 billion, which affects Ripple price.
- The court’s decision on Ripple’s “programmatic sales” of Ripple to retail investors, as well as its decisions on “institutional” and other sales, could have a wide-ranging impact on Ripple price.
- Ripple’s legal status affects investor sentiment, which is another factor impacting the price of XRP.