Latest News

Ripple vs. SEC Litigation Takes Unexpected Turn: Can the XRP Price Seize This Opportunity and Rise to $7?


share this article!

The SEC’s case against Ripple plays a pivotal role in XRP’s valuation.
Expert predictions hint at possible bullish trajectory with price targets of up to $7.

The SEC and Ripple Drama Influences XRP’s Market Performance

Ripple’s native cryptocurrency, XRP, has faced its fair share of volatility, largely impacted by the ongoing legal skirmish with the United States Securities and Exchange Commission (SEC). A recent ruling in Ripple’s favor, which clarified that secondary sales of XRP do not equate to investment contracts, resulted in the price soaring to nearly $1 – effectively doubling its value in a short span.

Such events have ignited a series of optimistic XRP price projections. One of the most recent forecasts comes from EGRAG CRYPTO, suggesting a potential climb to the $7 mark. The Monthly time frame chart, according to the expert, gives pertinent hints. However, it’s the “rock-solid candle bodies” that truly emphasize the market structure.

Source: X

The expert’s insights reveal some intriguing potential moves for XRP. While a short-term dip to between $0.40 and $0.33 could be a transient phase, the subsequent resistances are believed to be at $0.80 and $1.3. Beyond that, the targets of $2.8, $5.5, and possibly up to $6-7 are being eyed, representing an optimistic outlook for XRP’s future.

TradingShot’s Technical Analysis: Short and Long-term Forecasts

Another perspective comes from the seasoned crypto analyst, TradingShot. In a detailed analysis, the recent uptrend following the favorable court ruling saw XRP’s value surge past the $0.90 mark. However, the jubilation was ephemeral, with the price undergoing a double phase decline, eventually dropping below some pivotal support levels.

TradingShot’s analysis hinges on crucial moving averages, which currently serve as the support zone for XRP. Based on the technical indicators, the medium-term forecast for October is pegged at $0.56750, exuding confidence in the coin’s upward momentum.

>> Buy XRP quickly and securely with PayPal, credit card or bank transfer at eToro. Visit Website <<

Further, the 1-day Relative Strength Index (RSI) has been observed to form higher lows, indicative of a possible bottoming pattern. Drawing parallels from past market behaviors, TradingShot postulates a bullish trajectory for XRP, extending the optimism with a long-term price projection of $0.9300 for January 2024.

As XRP continues its dance with market dynamics and legal battles, its current price hovers around $0.50, with the past week reflecting a stable trend. The ongoing SEC case undeniably remains a crucial influencer, with the cryptocurrency community eagerly anticipating the case’s next developments, including the SEC’s intent to appeal and the upcoming trial for XRP executives next year.

Best Crypto Exchange for Everyone:Invest in Ripple (XRP) and 70+ cryptocurrencies and 3,000 other assets.
0% commission on stocks – buy in bulk or just a fraction from as little as $10.
Copy top-performing traders in real time, automatically.
Regulated by financial authorities including FAC and FINRA.
2.8 Million Users

Get Started

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.


Read More

share this article!

No new Earn orders amid HK investigation: JPEX

Previous article

融創掉頭上揚 飆近1成 恒指續於萬八點關徘徊|持續更新

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News