XRP price is up 3.5% in the past 24 hours, climbing to $0.463353, representing an 8% gain over the past seven days.
Its current price means it is down 11% in a month but up 36% since the start of the year, with appreciation as the market awaits the conclusion of Ripple’s case with the SEC.
It also comes as Ripple CEO Brad Garlinghouse suggests in an interview Cryptocurrency firms could leave the US, which in their view currently suffers from a “confusing” regulatory regime.
This may suggest that Ripple itself may be planning to leave the US in the wake of its battle with the SEC, but with the cryptocurrency firm also acquiring custody provider Metaco this week, that doesn’t mean it’s looking to lose ground. doing.
XRP Price Prediction As Ripple CEO Says Crypto Firms May Leave US Amid Confusing Regulations – Here’s The Latest
There is no doubt that XRP is one of the strongest major cryptocurrencies in the market at the moment, with its indicators showing good momentum.
Its 30-day moving average (yellow) continues to climb well above its 200-day SMA (blue), indicating strong buying pressure that could continue for several days, if not weeks.
Similarly, its Relative Strength Index (purple) has remained consistently above 50 since mid-week, and is now rising again after a brief decline.
Perhaps the most encouraging sign is that XRP’s support level (green) has been consolidating around bullish higher levels over the past few days, indicating that the altcoin’s gains are not going to reverse anytime soon.
XRP’s strength this week is the product of a few factors, with first judge Analisa Torres – who presides over the Ripple-SEC case – rejecting the regulator’s proposal to block access to key documents related to William Hinman’s 2018 ‘Ethereum’ rejected. The ‘this-is-not-a-security’ speech.
This speech and related emails have an important bearing on the XRP case, in that they may refer to how the SEC views altcoins, and in that they may reinforce the argument that the regulator did not provide Ripple with proper information. .
This Is the Biggest Reason for XRP’s Recent Cheer, Yet Altcoins Find Support Too Ripple acquires Switzerland-based custody provider Metaco for $250 million,
With this acquisition, not only is the company planning to expand into institutional custody services, but it also serves as an indicator that it is planning for a future in which it will be able to operate without any restrictions. Will be free
In other words, the acquisition is a sign that Ripple is hoping to win its case with the SEC, or at least secure a favorable ruling.
In doing so appears to be the general opinion of most of the cryptocurrency community, with lawyers noting that the SEC hasn’t done a very good job of proving a key premise of its case, which is Ripple’s offer to early buyers of XRP. profit expected.
Hence, the next few weeks or months could indeed bring positive results for Ripple, which would result in a massive rally for XRP.
From its current level of around $0.46, the case could easily slide back to $1 in the days or weeks following the close, while a generally bullish market could help propel it to even higher levels, potentially could potentially upset its current all-time high of $3.40.
Another pre-sale state of Ecoterra sells out
While XRP will almost certainly skyrocket if Ripple turns out well, there is no guarantee of such an outcome, which means investors may be well advised to consider diversifying their portfolios.
One of the best ways to do this is to include one or two pre-sale tokens that come with huge potential, especially in terms of getting listed on major exchanges and rallying as a result.
One of the most interesting of these at a fundamental level is EnvironmentThe soon-to-be-launched recycle-to-earn platform has raised over $4 million in its presale.
The sale is currently in its seventh phase, with the price of 1 ECOTERRA at $0.008500, rising to $0.009250 in the eighth phase of the offering.
Ecoterra has already blown through its soft cap target of $2 million in ECOTERRA, and aims to raise a maximum of $6.7 million with the coin’s first exchange listing slated for Q3 of this year.
Once launched, Ecoterra’s platform will enable users to recycle various household recyclables at designated reverse vending machines, plus users will be able to register recycled items through the official Ecoterra app to receive Ecoterra in exchange.
Ecoterra will also encourage recycling by allowing ECOTERRA to be used for staking, meaning holders will be able to buy tokens and/or earn passive income from recycling.
On top of this, the platform will also have a marketplace for carbon credits, which can be purchased using ECOTERRA and exchanged for NFTs.
Overall, features like these promise to turn Ecoterra into a thriving ecosystem, just as it promises to help us preserve our own ecosystems.
