XRP Eyes $0.50 on SEC v Ripple Optimism and US Debt Ceiling News

XRP increased on Saturday by 0.71%. After increasing by 3.32% on Friday, XRP reached $0.47211 at day's conclusion. Significantly, for the first time in six sessions, XRP maintained its $0.47 handle price.

A rough morning prevailed. XRP increased to a high of $0.47883 in the early morning. XRP breached the First Major Resistance Level (R1) at $0.4747 before dropping to a low of $0.46538 in the wee hours. However, XRP recovered support in the afternoon to end the day at $0.47211 by avoiding the First Major Support Level (S1) at $0.4578.

News about the US debt ceiling and expectations of a ripple victory brought support

The beginning of the weekend was peaceful. There were no recent news updates pertinent to the SEC v. Ripple case to provide guidance. The absence of information has allowed Brad Garlinghouse, CEO of Ripple, to continue making waves with his earlier this week remarks.

Despite the market confidence, the Fed's reputation had a negative impact on investor mood throughout morning. Buyer appetite was put to the test by increasing wagers on a 25 basis point interest rate increase in June.

However, news that US President Joe Biden and House Speaker Kevin McCarthy had reached an agreement to prevent a US default brought support in the afternoon.

The Coming Day

There are no court decisions from the SEC v. Ripple case for investors to contemplate during the holiday weekend, so it is a quiet Sunday session. Investors should be able to continue reacting to the US debt limit announcement after the calm session.

Investors should also keep an eye on news about Binance and Coinbase (COIN), SEC v. Ripple, and SEC activities.