Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => XRP - Ripple Forum => Topic started by: Coinpedia Fintech News on April 20, 2023, 11:50:41 AM
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In the last 24 hours, XRP has dropped by 6%, reflecting the volatility of the overall cryptocurrency market. Despite maintaining a position above the 50-cent mark for three weeks, the recent dip in price could signal a bearish trend in the near future. Investors are closely monitoring the weekly close to determine the bullish outlook for XRP.
Crypto Analyst Yuriy_Bishko, believes that the outcome of the Ripple case expected to conclude in May could greatly impact XRP's price action. If Ripple is found guilty of selling unregistered securities, the XRP price could drop to the nearest major support level between $0.37-0.41. However, if Ripple is acquitted and XRP is deemed a commodity, the token's value could skyrocket.
The analyst mapped the main long-term targets for XRP in the SEC vs Ripple case ends in favor of the blockchain company. The first target for the XRP price mapped by the analyst is $0.66. The key level after that is $0.80, and then $1, which the analyst noted to be a huge resistance level