Ripple grabs some confidence

Yesterday Ripple (XRPUSD) finally managed to pluck up enough courage to make a small rebound when the price lifted back above $0.40. That was the catalyst for an upside extension to as high as 0.4809 around the rime of the wider US market close. However, it was not able to sustain that gain in early Asian trading and fell back towards 0.42. It has steadied since and is currently lifting back above 0.44. The move higher yesterday came as both Ether and Bitcoin charged back up late in the evening. So, finally the propulsion there did have a positive impact on XRP. However, there is a long way to go before it can even consider brushing off the damage that was caused to it on Monday when the Reddit inspired pump of last weekend ended in tears, with a near 50% fall. Consequently, whilst not ruling out further gains, the prospect of SEC court action has not yet gone away and until it does, further upside looks like it will be hard fought. XRPUSD is currently trading at 0.4425