XRP has recently won its case against the US SEC. With Ripple securing a massive win against the US SEC, the crypto market is rejoining the collective success, delivering stable gains in return. At press time, XRP is trading at $0.5996, up 0.9% in the last 24 hours.
With the legal hurdles now sorted, XRP enthusiasts hope the token will carve its independent price path. Crossing Ripple’s $0.65 price barrier would entail significant relief, compelling the coin to climb to new price highs. Will XRP be able to cross past the critical juncture?
Also Read: Ripple Gears Up To Launch RLUSD, Will It Help XRP Surge To $1?
Ripple’s Celebrated SEC Win
It’s been quite a week for Ripple XRP, as the token was recently liberated from the 4-year legal spat it was embroiled in with the US SEC. The court’s ruling finally supports Ripple, declaring that the token is officially not a security.
Market Reaction to the SEC Win
This development ushered in a wave of change in the crypto market, bringing significant gains for the collective altcoin market. According to Santiment, the market is recovering, as XRP’s win is celebrated across all fronts.
“The most volatile week crypto has seen since the FTX collapse two years ago, markets are ending it with a celebratory bang. XRP’s bullish reaction to its lawsuit has led to price gains, while BTC and ETH continue punishing the Monday and Tuesday bottom sellers.👍”
📈 In the most volatile week crypto has seen since the FTX collapse two years ago, markets are ending it with a celebratory bang. XRP's bullish reaction to its lawsuit has led price gains, while BTC and ETH continue punishing the Monday & Tuesday bottom sellers.👍 pic.twitter.com/k6aYI93m0C
— Santiment (@santimentfeed) August 8, 2024
XRP’s Future Price Path
Now that the token is free from the SEC’s rulings, XRP can carve its price path. According to CoinCodex, the token can encounter severe resistance at certain price levels. This means XRP may have difficulty crossing specific price barriers due to low technical support. However, it can break into a stunning bullish streak once it crosses such price barriers.
“Based on today’s classical pivot point (P1) with a value of $0.578636, XRP has support levels of $0.521687, $0.439374, and the strongest at $0.382425. Similarly, XRP resistance levels are at $ 0.660949, $ 0.717897, and $ 0.80021.”
🌟 Big news! Ripple’s new partnership with DIFC Innovation Hub is set to supercharge blockchain innovation in the UAE. 🚀 With 1 billion XRP committed, expect exciting advancements and a boost for global developers. 💡 The UAE is rising as a fintech powerhouse! 🌐… pic.twitter.com/LuWMwKRxdk
— Collin Brown (@CollinBrownXRP) August 7, 2024
With its current price of $0.59, XRP needs a solid push to enter the $0.65 club. With Ripple forging global collaborations and partnerships and preparing for the RLUSD launch, the token may soon explore a bullish price path.
XRP Price Prediction for the Weekend
According to CoinCodex, XRP may soon explore a new price threshold of $0.79 by August 11, 2024. However, it may quickly stabilize at the $0,72 price level by August 15.
“The XRP price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these XRP projections, XRP will be changing hands at $0.724839 on August 15, 2024, gaining 18.52% in the process.”
By the end of the month, the token can surge by 20% to hit the $0.73 price mark.
“The price of XRP is predicted to rise to $0.739266 by September 7, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 20 (extreme fear). XRP recorded 19/30 (63%) green days with 10.37% price volatility over the last 30 days.”
