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- Ripple is now ranked sixth on CoinMarketCap, with a market capitalization of more than $40 billion. With the recent case of the SEC and Ripple, numerous members of the XRP community have been anticipating retaliation.
- The 4-hour chart shows that the price of XRP is finally rising. Its increasing trend points to a major leap, with a target of $0.90. However, the crypto may have to fight a little in order to reach its goal
- The resistant bridge from the Momentum Reversal Indicator (MRI) as the 78.6 % Fibonacci retracement level is mostly responsible for this. The upward trend of the XRP price will most likely reach a new high if buying orders grow. However, if selling pressure increases, the price of XRP may go below its Simple Moving Average (SMA) of $0.69.
Ripple is one of the altcoins that has performed admirably in the cryptocurrency market. This crypto has become one of the best long-term and short-term investment options due to its price-performance and the overall trend in the protocol’s ecosystem.
The Company Has A Market Valuation Of More Than $40 Billion
Ripple is now ranked sixth on CoinMarketCap, with a market capitalization of more than $40 billion. With the recent case of the SEC and Ripple, numerous members of the XRP community have been anticipating retaliation. This follows the judge’s unsealing of three different documents. However, John Deaton, a cryptocurrency lawyer who represents over 64,000 XRP holders, suggested some ways to defuse the situation. First, he stated that the SEC is likely to take two actions. The email thread and deposition notice of Brad Garlinghouse, Ripple CEO, are included in the new evidence. A line from Chris Larsen, a Ripple official, is also included in the evidence.
Significantly demonstrating the link between Ripple’s public releases and the XRP price, according to Deaton’s opinion, would be near impossible. Furthermore, he stated that the SEC would have to certify Garlinghouse and Larsen’s sale of XRP coins in the United States. In addition, the lawyer was considering whether the SEC could allege that Ripple had created a secondary market for XRP. This could be their backup plan if they can’t prove the two Ripple execs are selling XRP in the United States. Despite holding amicus counsel status in the case, Deaton has yet to see the unsealed document.
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The Price Of Ripple (XRP) Is Rising, With The Goal Of Reaching $0.90
The 4-hour chart shows that the price of XRP is finally rising. Its increasing trend points to a major leap, with a target of $0.90. However, the crypto may have to fight a little in order to reach its goal. However, while surging beyond the $0.90 barrier, the XRP price is going to face a significant obstacle. The resistant bridge from the Momentum Reversal Indicator (MRI) as the 78.6 % Fibonacci retracement level is mostly responsible for this. The upward trend of the XRP price will most likely reach a new high if buying orders grow. However, if selling pressure increases, the price of XRP may go below its Simple Moving Average (SMA) of $0.69.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
