Lately, the upward motion of the cryptocurrency market has slowed down, mainly due to developments in the realm of Bitcoin. During this time, numerous investors have been cashing in their gains, while others have been adjusting their investment tactics. As the countdown to the court hearing continues, Ripple remains entrenched in its legal battle with the SEC, ensuring that XRP remains a topic of interest. Here's an in-depth examination of XRP's chart movements and the crucial levels worth noting.

XRP Chart Analysis on a Four-Hour Basis

Examining the four-hour XRP chart reveals the formation of an ascending channel, which was breached only during the surge on March 11, although it proved to be a deceptive uptrend. After touching the support line, XRP managed to close above the EMA 200 (represented by the red line), yet recent candle patterns suggest consolidation within a narrow range.

The most significant support levels on the XRP chart include $0.6265, $0.6131, and $0.6035, respectively. A close below the crucial $0.6035 level, particularly below the EMA 200, could signal a substantial loss of momentum for XRP's price.

On the flip side, key resistance levels to keep an eye on for XRP are $0.6373, $0.6491, and $0.6682, respectively. Surpassing the significant resistance mark of $0.6373 in a four-hour bar closure could inject momentum into XRP's price.

XRP Chart Analysis on a Weekly Basis

Turning to the weekly XRP chart, we observe an ascending channel formation that has been offering valuable insights to investors for almost a year. Following the support touch in February, XRP's price crossing the EMA 200 and EMA 9 levels could usher in a surge in momentum.

Important support levels to track on the XRP chart include $0.6065, $0.5712, and $0.5263, respectively. A weekly close below the $0.5712 level, coinciding with the EMA 200, might lead to a loss of momentum for XRP's price.

Meanwhile, significant resistance levels to monitor on the weekly chart for XRP are $0.6458, $0.6990, and $0.7483, respectively. A weekly close above the critical resistance level of $0.6458 could spark significant momentum in XRP's price.

In conclusion, the trajectory of XRP's price movements remains crucially influenced by ongoing developments, with key levels serving as indicators for potential shifts in momentum. Investors are advised to remain vigilant and closely monitor these levels for insights into XRP's future price movements.