XRP is holding its support around $0.37; experts suggest XRP price is preparing for an up move after the SEC-Ripple case resolves. XRP price is slightly up in the last 24 hours after forming a green indecisive Doji on Monday.
This week Ripple got a bullish start as presiding Judge Torres granted and denied motions from SEC and Ripple’s sides. Ripples have a better footing in the case because the courts denied SEC’s motions to exclude testimony.
Indeed, any update regarding this issue will impact the XRP price. The investors are focusing on this case as a major crypto event, and lawmakers’ views and regulatory activities will be the focal point of discussion.
The hawkish view of Fed Chair Powell could increase the anti-crypto sentiment, which might ban the proof of work protocols to protect the environment. Any news from Capitol Hill will make the crypto market more volatile.
XRP/USD – Technical Analysis
At the time of writing this post, XRP is bearish, and candlesticks are forming in the lower Bollinger Bands. RSI is bearish, around 42, and the overall chart pattern has been forming lower highs since the beginning of 2023.
Indeed, $0.38 is strong support, but any unfavorable news regarding the SEC-Ripple case may drag the price up to $0.3. Is it the right time to invest in XRP/USD long-term? Our algorithmic price predictions and experts’ opinions predict an uptrend in the next five years.
After the settlement of the SEC-Ripple case, you can expect an upside really around a level of $1.5, which can be a huge return within less than one year. That is why XRP is a trending cryptocurrency in the global scenario. Crypto enthusiasts and experts worldwide focus on XRP price predictions before investing for the next five years.
Based on our algorithmic price projections, the maximum XRP price will be around $3 in 2024 with a support of $1.5, suggesting huge volatility in these two years. Most cryptocurrencies will be uptrend in 2024-2025, and Ripple will provide a better return than many other digital assets.
Our XRP coin price prediction suggests a steady growth in 2025 with less volatility in XRP price between $2.75 and $3.5. Indeed, it also depends on the market sentiment and macro and micro economic factors.
With this steady growth, the XRP price will hit $10 in 2030, which will be a multi-bagger return for investors.
Published at Tue, 07 Mar 2023 10:16:48 +0100