XRP price is up 1% today, covering a market wide decline to $0.505788 over the past 24 hours.
The price represents an 11% gain over the past week, with traders and analysts anticipating a positive decision in Ripple’s long-running case against the SEC.
In fact, XRP is up an impressive 48% since January 1st due to rising expectations of a positive outcome for Ripple, which has enjoyed several positive developments in its case over the past few weeks.
And with one particular analyst predicting a breakout for XRP in June, it may not be long before this case ends and the altcoin experiences the massive rally that holders have been expecting since December 2020.
XRP Price Prediction to Surprise Traders in June Says Crypto Expert with 400,000 Followers as Ripple Lawsuit Verdict
XRP actually rose to $0.527786 overnight, a price that marked a 10% increase from its levels on Monday.
However, it has calmed down a bit since then, with this minor drop largely attributed to the mixed messages its technical indicators are sending out right now.
On the one hand, the Relative Strength Index (purple) for XRP has dropped below 50, indicating a loss of momentum.
Yet on the other hand, the RSI has started rising again, while the coin’s 30-day moving average (yellow) continues to climb above its 200-day average (blue), pointing to potential gains to come. Is.
At the same time, XRP’s support level (green) continues to rise as the altcoin consolidates around increasingly higher prices, providing it with a strong base from which to mount further upside.
Therefore, XRP is really well positioned for some big rallies in the coming weeks, as predicted by an increasing number of analysts and commentators.
One expert – who goes by the Twitter handle @CryptoGodJohn – has suggested that the coin could see a breakout next month, with the analyst estimating a breakout of 12% or even more.
While the cryptocurrency market is notoriously volatile, such a prediction is credible, given the positive noise emanating from the Ripple-SEC case.
Recently, SEC emails revealed that the regulator had received advice (at least before suing Ripple) that XRP was No A security, a revelation that undermines the regulator’s case.
Combined with other positive rulings that have come in favor of Ripple over the past few months, this suggests that the cryptocurrency company has a very good chance of securing a summary judgment or settlement that works in its favor, making it the first of its kind. continue to operate and allow trading. XRP.
Ripple is confident in itself, as evidenced by its recent $250 million acquisition of Metaco, a provider of digital asset custody services.
As some commentators have already pointed out, it is highly unlikely that Ripple would have bought Metaco if it did not strongly believe it would see a favorable outcome in its case with the SEC.
Such developments have fueled growing market confidence in XRP, which helps explain its recent gains.
However, if and when a positive decision comes, XRP could see a huge rally, potentially rising to $1 in a matter of weeks.
And from there, an increasingly bullish cryptocurrency market could return to $2 or even $3 in early 2024.
Diversify With Wall Street Memes
Despite the growing positivity surrounding Ripple, we may still not see a decision on its case for several months, meaning XRP may not expect a major rally for quite some time yet.
For this reason, traders may be well advised to spread to other altcoins, especially with pre-sale tokens offering the potential for large, market-beating gains when they are listed on exchanges.
this also includes wall street memes (WSM), a new cryptocurrency to emerge from the meme stock movement that began with the 2021 GameStop and AMC rally.
Wall Street Memes launched a presale for its WSM token a few days ago, and even though it’s still in its early stages, it has already raised over $1.2 million.
This is an impressive figure, and with the fact that wall street memes twitter account Boasts of over 200,000 followers, showing how quickly it attracts investors.
The WSM pre-sale will have a total of 30 tranches, with the current 4th tranche offering WSM at a price of $0.0259, though it will climb up to $0.03370000 by the end of the sale.
In other words, the price of WSM will increase by 30% even before it is listed, while its addition to the exchanges could see it rally by a much higher margin.
This means that investors have a limited amount of time to buy some WSM before it becomes potentially more expensive, with interested parties able to participate in the pre-sale. Official Wall Street Memes Website and connecting their crypto wallet.
The majority of WSM’s total 2 billion supply will be directed to its community, with 50% allocated to pre-sales and 30% going towards community rewards.
This distribution is one of the reasons why its pre-sale has already performed so well, and while the sale is still in its early stages, it could easily become one of the most successful token offerings of the year.