Ripple is preparing for a possible $0.7 target as it continues its weekly gain of 12%. The asset seems to have thrived ever since it settled its years-long lawsuit The US Securities and Exchange Commission is a regulatory body that oversees the US financial markets.
At the moment, this asset faces an important resistance level. This will ultimately determine its destiny. However, ETF and IPO The hype is forming positive sentiments in the market. It could also coincide with a stronger market rebound, which would catapult XRP as one of the most successful cryptocurrencies for this year.
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What is the probability of XRP reaching $0.7 per unit? A Resistance Could Be in the Way
Ripple is a promising investment for 2024. Ripple had the potential for success but faced many obstacles. It is now ready to start achieving its potential as we approach the half-way point. This is why its recent $125m settlement with SEC, which was announced in December of last year, represents a solid starting point.
XRP is aiming to hit $0.7. Ripple’s weekly gains have already reached 12%. According to, over the past seven days the asset’s value has increased from $0.58 to the current level. CoinMarketCap. Here, $0.63 is a critical resistance level.
XRP has been under pressure from sellers. It has been trading between $0.63-$0.55, with market behaviour setting its position. next move. In fact, it is at a critical crossroads. It can either overcome resistance and gain support, or fall to the opposition.
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The consolidation of the economy was to be expected. How it performs on its current level will show its direction. next course. If the company can overcome this resistance it may aim to increase further above the $0.71 level. If it does not succeed, the price could drop as low as $0.48.
Recently, I had a discussion with Forbes, Conotoxia crypto analyst, Grzegorz Drozdz noted Ripple’s uncertainty. He said specifically that the SEC matter is still not resolved. This makes future predictions harder.
“The dispute has not yet been fully resolved,” “I told this publication. The recent developments have been encouraging but we can’t be certain of XRP’s trajectory in the future.
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Source: watcher.guru