XRP Sellers Build Up Momentum: Ripple Safe from A US SEC Appeal At Least Until 2026

XRP is under pressure, and cracks are beginning to show. From the daily chart, not only is the coin retesting $0.55, briefly dropping below this line on September 5 but there is also fizzling momentum. Sellers have the upper hand as the coin flat-lines within a tight range. This shows because XRP has been weaving around the $0.55 for days, signaling bear pressure. Unless a bounce takes the coin to the upper end of the range, the probability of sellers forcing prices below this range remains high.

As XRP consolidates, the $0.55 level will be crucial. How the coin performs today might shape the short to medium trend. Specifically, traders are watching the local resistance and support at $0.58 and $0.55, respectively. So far, XRP is down 2% on the last day amid falling trading volume that’s now below the $1 billion mark.

The following XRP and Ripple news events might shape the short-term trend:

• Ripple, the blockchain company, has filed a letter requesting the court for a stay of execution. This concerns the monetary portion of the court ruling issued in early August. Then, the firm was to pay $125 million as a fine to settle the multi-year court case.
• Even with XRP choppy, one lawyer is downplaying the impact of the United States SEC appealing their case versus Ripple. Even if they do, the lawyer thinks it will be made in 2026. For this reason, the short-term trend of the coin will be purely influenced by factors outside the SEC.

XRP Price Analysis

XRP/USD is flat at press time.

Sellers have the upper hand, per the state of affairs in the daily chart.

While prices weave around $0.55, there might be entries for sellers only once there is a decisive, high volume close below this crucial support.

When that happens, XRP may slip towards August 7 lows at $0.50 as the coin retraces.

If not, and there is an explosion from $0.55, the coin will extend gains of early August, pushing it toward July 2024 highs.