The XRP price is currently consolidating below $0.4850 and the 100-hour Simple Moving Average, indicating that the bears are in control of the market. XRP is facing regulatory challenges, with potential inconsistencies in its legal status across different states, as pointed out by lawyer Fred Rispoli. Despite attempts at a recovery wave, the XRP price is experiencing strong selling pressure, especially near the $0.4880 resistance zone. The price has dropped below key levels and is now trading below $0.4850 and the 100-hour Simple Moving Average. The selling pressure on XRP continues as the altcoin faces legal hurdles in the Ripple vs SEC battle. On the upside, the price may encounter resistance near $0.4765, while the first major resistance lies near the $0.4810 and $0.4820 levels. The XRP Ledger AMM has shown healthy growth, with total-value-locked (TVL) increasing by 51%. A decisive move above the $0.4820 resistance could push the price toward $0.4880 and the next major resistance at $0.50. If the resistance is not broken, the price could continue its downward trend. Initial support is near $0.4720, with the next major support at $0.4650. Uncertainty remains regarding XRP’s legal status, with different states having different opinions on whether it should be deemed a security. The Ripple vs SEC lawsuit is still ongoing, and a final settlement is expected by the end of the year.
