- XRP recovered from Thursday slump to trade above $0.33.
- The Judge replacement in Oconer case may hurt the company.
XRP is changing hands at $0.3328 at the time of writing. The third largest digital coin recovered from Thursday’s low at $0.3228, though the short-term sentiments remain bearish. XRP/USD has lost 2.18% on a daily basis and 0.5% since the beginning of Friday. Its market value is registered at $13.2B, while an average daily trading volume is $258M.
Legal issues piling
Meanwhile, lawsuit between David Oconer and Ripple Labs Inc has got a new turn as San Mateo’s (California) court deemed the case as complex and reassigned it to Judge Marie S Weiner. It is a surprising decision as earlier Ripple Labs asked to replace Judge Marie S Weiner in the ongoing case against plaintiff Zakinov, stating that this particular Judge may not treat the case in a fair way. The court satisfied the request on August 22.
Ripple’s technical picture
XRP bulls pushed the price back above $0.33 handle, which is a good sign. Now this area serves as a formidable support, strengthened by SMA200 (1-hour chart). Once below, the sell-off may be extended towards Thursday’s low at $0.3228.
On the upside, the local resistance is created by a confluence of SMA50 and SMA100 (1-hour chart) at $0.380. It is followed by $0.34 handle and a critical barrier at $0.35.
XRP/USD, 1-hour chart
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