• XRP price stands at $0.372400, having risen by 1.2% in the past 24 hours.
• Ripple had reported some exposure to Silicon Valley Bank, but CEO Brad Garlinghouse disclosed that there should be no disruption to its day-to-day business.
• XRP’s indicators are currently in a promising position with its 30-day moving average (red) looking as though it could begin rising toward its 200-day (blue).
XRP Price Overview
The XRP price stands at $0.372400 this morning, having risen by 1.2% in the past 24 hours in the context of a 2% increase for the market as a whole. Its current price means that XRP has fallen by 2% in a week and by 1% in the last 30 days, although the altcoin has gained by 9.5% since the start of the year.
Ripple’s Exposure to Silicon Valley Bank
Ripple had reported some exposure to Silicon Valley Bank, which was placed under federal receivership on Friday, yet CEO Brad Garlinghouse disclosed that there should be no disruption to Ripple’s day-to-day business. This news appears to have steadied XRP’s price action in recent days as it also benefits along with other coins from federal intervention to stabilize ongoing banking issues.
XRP’s Indicators Position
XRP’s indicators currently find themselves in a promising position, with its 30-day moving average (red) looking as though it could begin rising toward its 200-day (blue). Such a move would indicate a breakout rally, something which is supported by XRP’s relative strength index (purple), which is still in an oversold position and due for correction towards more bullish territory soon.
XRP Price Predictions
XRP had actually risen as high as $0.386898 within the last 24 hours, making for a 7% compared to where it was on Monday. Moreover, Ripple awaits a decision on their case with SEC later this year which could lead them into some of biggest gains among major tokens if successful; thus providing an even bigger boost for XRP’s price movements going forward .
Conclusion
Given Ripple’s exposure to Silicon Valley Bank and SEC case pending outcome later this year , there are various reasons why one can suggest that Ripple has good chance of securing favorable outcome or settlement; hence setting up stage for potentially above average climb from current levels .