Ripple, Ethereum & Bitcoin – Asia Wrap 16 May

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Ripple (XRP) price trades broadly sideways at around $2.41 on Friday, rising slightly after a minor correction from this week’s peak of $2.65 to support $2.34. This comes after United States (US) District Judge Analisa Torres rejected Ripple Labs and the Securities and Exchange Commission’s (SEC) joint request for an indicative ruling. The parties had reached a settlement agreement last week, pending judicial approval.

Ethereum price retested and found support around its 200-day Exponential Moving Average (EMA) at around $2,438 on Monday and rallied 7.38% the next day. However, ETH lost most of its recent gains and declined until Thursday. At the time of writing on Friday, it hovers around $2,575. If the 200-day EMA at $2,438 continues to hold as support, the rally could extend to retest its key psychological level at $3,000.

Bitcoin (BTC) and Solana (SOL) saw a slight decline on Thursday,…

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