Where is the next direction for XRP by May 21?
The XRP cryptocurrency continues to put pressure and throbbing on the Ripple community in anticipation of the next price movement.
The price movement on the XRP/USDT chart continues to move erratically. This is due to traders being vigilant awaiting the outcome of the next hearing between the SEC and XRP.
The next hearing between the SEC and XRP is scheduled for May 21, which will be held virtually.
It can also be seen on the XRP/USDT movement chart, where last week XRP made a jump to test the resistance level around the $ 1.60 price before making a re-decline to test the support level around the $ 1.30- $ 1.40 price.
Uncertainty over the outcome of the trial between the SEC and XRP has prompted price movements on the XRP/USDT chart for this week starting with a ‘sideway’ movement.
But from the point of view of technical analysis, it can be seen that the movement of the daily chart XRP/USDT is doing a ‘Symetrical Triagle’ pattern which is better known as the ‘Flag’ pattern which is a sign that XRP/USDT will continue to rise more drastically.
The high around $ 1.75 will be the next focus to be broken which is the highest level ever reached at the beginning of the market this May before testing the resistance level around the price of $ 1.96.
