Ripple (XRP) critical level: Will the rise continue?

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Can Ripple (XRP) continue its upward movement with Bitcoin's upward trend and the wind at its back with the SEC agenda?

Speculations about a settlement with the SEC for Ripple have been increasing recently. According to the Sunshine Act notice from the SEC, a meeting is planned for July 18. In this meeting, the SEC will discuss the establishment and settlement of measures, the settlement of administrative proceedings, and the resolution of claims. There are speculations that the SEC may drop the lawsuit against Ripple, and this could be a significant moment for XRP.

Technical and fundamental analysis is promising for Ripple (XRP

Technical analysis shows that XRP could rise above $0.60 and encounter resistance at $0.62. With a break above $0.62, the popular altcoin could make a move towards $0.70.

Ripple CEO Brad Garlinghouse recently indicated a positive development for XRP. He added that having a reliable benchmark for institutional crypto products is crucial. CME Group will announce this comparison, which can provide significant benefits to XRP, on July 29th.

Garlinghouse believes that XRP is making smart moves to attract institutional investors. He also mentioned that Ripple will announce critical developments in October.

Following Robinhood's purchase of the exchange for $200 million, Ripple is planning to sell its stake in Bitstamp. Ripple is also likely preparing for the coming period by selling its stakes in MoneyGram and other companies. There are also rumors that XRP could be relisted on Robinhood in August, which could be a major boost for XRP's market value.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.

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