XRP Price Target Remains $0.45 as SEC v Ripple Court Date Approaches

Key Insights:

• On Saturday, XRP fell by 2.93%, ending a five-sessions winning streak.
• There were no updates from the ongoing SEC v Ripple case to provide direction, leaving investors to lock in profits as November 30 approaches.
• The technical indicators are less bearish, with XRP sitting above the 100-day EMA, signaling a possible return to sub-$0.45.

On Saturday, XRP fell by 2.93%. Reversing a 1.46% gain from Friday, XRP ended the day at $0.39604. Notably, XRP revisited $0.41 for the second consecutive session and the second time since the FTX collapse.

A bullish start to the day saw XRP rise to an early high of $0.41365. Falling short of the First Major Resistance Level (R1) at $0.4213, XRP slid to a late low of $0.39277. However, finding late support, XRP revisited $0.3971 before easing back.

XRP bucked the broader market trend on Saturday. Investors likely locked in profits after five consecutive daily gains, with trading volumes sliding through the afternoon session.

November 30 Court Date the One to Watch for XRP Investors

While there were no updates from the ongoing SEC v Ripple case to influence, the next Court date of November 30 is rapidly approaching.

On Wednesday, the parties must file summary judgment reply briefs. The public can access redacted versions on December 5. The reply briefs are significant as Ripple could use the filing to corner the SEC into a settlement.

William Hinman’s speech-related documents and the Amicus Briefs will likely be areas of interest. While the defendants have the documents in their possession, the SEC will want to prevent the public from accessing the Hinman documents.

In a famous 2018 speech, Division of Corporation Finance, William Hinman, said that Bitcoin (BTC) and Ethereum (ETH) are not securities.

By way of history, the SEC failed to shield the Hinman speech-related documents on more than six occasions.

XRP Price Action

At the time of writing, XRP was up 0.90% to $0.39962. A bullish start to the day saw XRP rise to an early high of $0.39979 before easing back.

Technical Indicators

XRP needs to move through the $0.4008 pivot to target the First Major Resistance Level (R1) at $0.4089 and the Saturday high of $0.41365. A return to $0.4050 would signal another breakout session.

In the case of an extended rally, the bulls would take a run at the Second Major Resistance Level (R2) at $0.4217 and $0.43. The Third Major Resistance Level (R3) sits at $0.4426.

Failure to move through the pivot would leave the First Major Support Level (S1) at $0.3880 in play. Barring an extended sell-off, XRP should avoid sub-$0.3850 and the Second Major Support Level (S2) at $0.3799. The Third Major Support Level (S3) sits at $0.3591.

Unexpected updates on the SEC v Ripple case and from FTX debtors will need consideration, however.

The EMAs and the 4-hourly candlestick chart (below) sent a more bullish signal.

At the time of writing, XRP sat above the 100-day EMA, currently at $0.39103. The 50-day EMA closed in on the 100-day EMA, with the 100-day EMA narrowing to the 200-day EMA. The signals were bullish.

A move through the 200-day EMA ($0.40677) would support a breakout from R1 ($0.4089) to bring R2 ($0.4217) and $0.43 into play. However, a fall through the 100-day EMA ($0.39103) would bring S1 ($0.3880) and the 50-day EMA ($0.38795) into view.