XRP won its recent case against the US SEC. After Ripple’s massive victory against the US SEC the cryptomarket is joining the collective success and delivering steady gains. At press time, the XRP price is $0.5996. It has increased by 0.9% within 24 hours.
XRP fans hope that the token can now chart its own independent path. Ripple’s $0.65 barrier is a significant price obstacle that would force the coin to reach new highs. Can XRP get past this critical juncture and continue to grow?
Please Read This: Ripple Gears Up To Launch RLUSD, Will It Help XRP Surge To $1?
Ripple Celebrates SEC victory
Ripple XRP has had a busy week, after the token recently emerged from a 4-year-long legal dispute with the US SEC. Ripple has finally been vindicated by the court, which declared that Ripple’s token was not officially a security.
Market reaction to SEC win
The crypto market has seen a significant change, with the altcoins collectively gaining significantly. Santiment believes that the market has recovered, and XRP is being celebrated on all fronts.
“The most volatile week crypto has seen since the FTX collapse two years ago, markets are ending it with a celebratory bang. XRP’s bullish reaction to its lawsuit has led to price gains, while BTC and ETH continue punishing the Monday and Tuesday bottom sellers.👍”
Future Price Path for XRP
XRP is now free to set its own price. CoinCodex says that the token could face significant resistance at specific price levels. Due to the low level of technical support, XRP could have trouble crossing certain price barriers. Once it passes these price barriers, it may experience a bullish surge.
“Based on today’s classical pivot point (P1) with a value of $0.578636, XRP has support levels of $0.521687, $0.439374, and the strongest at $0.382425. Similarly, XRP resistance levels are at $ 0.660949, $ 0.717897, and $ 0.80021.”
XRP, with its $0.59 current price, needs a big push to reach the $0.65 mark. The token’s price may be on a upward trend as Ripple continues to forge global partnerships, collaborate with other companies and prepare for the RLUSD release.
Weekend XRP Predictions
As per CoinCodexXRP is likely to reach a new threshold price by the end of August 2024. Although it could quickly settle at the price of $0 72 by August 15,
“The XRP price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these XRP projections, XRP will be changing hands at $0.724839 on August 15, 2024, gaining 18.52% in the process.”
At the end the month the price of the token could rise 20%, reaching $0.73.
“The price of XRP is predicted to rise to $0.739266 by September 7, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 20 (extreme fear). XRP recorded 19/30 (63%) green days with 10.37% price volatility over the last 30 days.”
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Source: watcher.guru