XRP Price Prediction as XRP Falls 2.3% in 24 Hours – Where is the Next Support?

cryptonews.com:

The XRP price has fallen by 3% in the past 24 hours, dropping to $0.387535 amid a marketwide fall today. It has now increased by 1% in a week and dipped by a very slight 0.2% in the last 30 days, as the XRP community continues to wait for the conclusion of Ripple's long-running legal battle with the SEC.

It's partly because of the SEC that the market -- and XRP -- has fallen today, with the securities regulator suing stablecoin issuer Terraform Labs and its (fugitive) CEO Do Kwon yesterday. However, with Ripple's case with the SEC looking good, and with the XRP community urging Coinbase to relist the token, it could have a good 2023 ahead of it. 

XRP remains in a dangerous position, with the coin arguably primed for more falls. Its relative strength index (purple) has dropped below 50 in the past day, and could fall further after spending much of January close to 70.

Meanwhile, XRP's 30-day moving average (red) has stopped rising relative to its 200-day (blue), and could therefore be about to drop back down again. 

The key support level to watch out for now is $0.38. The last time XRP dropped below this price, at the start of this week, it fell all the way down to about $0.36.

XRP has fallen below $0.35 only once this year (at the beginning of January), and this price remains its medium-term support level, one which would be breached only as a result of a serious market downturn.

As far as the longer term picture goes, holders are still waiting patiently for the conclusion of Ripple's case against the SEC. This is currently in its end phase, in that pretty much everything has been briefed in the case, leaving Judge Analisa Torres with the task of reaching a judgment.

According to an interview Ripple CEO Brad Garlinghouse gave