XRP price has declined by 1.5% in the last 24 hours, however it is priced at $0.382986 which represents a 3% increase in the last week and a 4% increase in the last fortnight.
XRP’s recent movements have enabled it to reclaim a market cap of $20 billion this morning, with the coin gaining 12% since the start of the year.
Its move amid ongoing anxiety around banking stocks and the global financial system helped boost the market overall (including XRP) with investors turning to BTC.
And with Ripple expecting an end to its long-running case with the SEC in the next few months, XRP could see some huge returns in the not too distant future.
Market Cap Reaches $20 Billion As XRP Price Predictions – Can XRP Reach $10?
XRP’s charts suggest that a rally may be around the corner, with its Relative Strength Index (purple) rising above 50 today, indicating an increase in positive momentum.
At the same time, XRP’s 30-day moving average (red) remains well below its 200-day average (blue), and it is set to start an uptrend again given that its recent decline has now been flattened. Could
In fact, XRP tested the resistance level of $0.4 this morning, a move that has enabled it to regain a market cap of $20 billion.
And while it has dropped back to below $20 billion, it is likely that it could not only return to this level in the next few hours or days, but also decisively surpass it.
Interestingly, whales have mixed views on what XRP could do next, with some moving their holdings to exchanges, and others off the token.
For example, while yesterday One Major Trader Saw $11.8M Move from Upbit to XRPThis saw an even larger transfer of $118.2 million to Binance.
Make of it what you will, but the long-term picture remains positive for XRP, largely due to expectations surrounding what will happen in Ripple’s case with the SEC.
Encouragingly, Ripple has been able to make a number of favorable decisions over the past few months, adding to the sentiment in the crypto community that it has good potential to prevail.
Most notably, this month saw the deposition of one of the SEC’s key expert witnesses, who was called by the regulator to testify that XRP buyers had a reasonable expectation of profit when purchasing the token from Ripple.
Not only that, but the last year or so has brought Ripple gains access to important SEC emailsnot to mention Upholding the company’s right to use the fair notice defense,
Because of all this, there is a genuine belief that Ripple will obtain a favorable ruling or settlement, allowing it – and XRP – to continue as before.
If this is the case, XRP is likely to skyrocket, potentially bringing most of the market with it.
In the event of a Ripple win, not only would it break $0.5 and then $1, but it could easily beat its current high of $3.40 reached back in January 2018.
From there, even bigger numbers are possible, with some XRP holders aiming for $10.
Such a price will depend on a very clear win in the case of Ripple, as well as the growth of its business and a return to more bullish market conditions.
However, it’s certainly not out of the question, especially as XRP continues to remain a top-10 cryptocurrency throughout the Ripple-SEC affair.
Is now a good time to buy XRP?
While this is a good time to buy XRP given how little it is worth, the altcoin may not see a major increase in price until later this year, once the matter is resolved.
Thus, traders seeking substantial short and medium term returns may prefer to consider other promising cryptocurrencies.
To help with this, cryptonews The Industry Talk team has assembled a selection of the top 15 cryptocurrencies to keep an eye on in 2023.
The list is updated weekly with new altcoins and ICO projects.
Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.