XRP price surged over 10% after the SEC and Ripple Labs ended their lawsuit, raising hopes for future growth and ETF approvals.
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XRP’s price increased to $3.33, marking an 8.32% rally in 24 hours.
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Despite the rally, a death cross in the XRP chart raises concerns about future price movements.
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Analysts predict that ETF approvals could push XRP above $4 in the coming months.
XRP price jumps over 10% after the SEC lawsuit resolution, raising hopes for future growth and ETF approvals. Read more for insights.
| $3.33 | 8.32% | 40.13% |
What is the recent impact of the SEC lawsuit on XRP?
The recent resolution of the SEC lawsuit has significantly impacted XRP, causing its price to surge over 10%. This positive movement comes after a prolonged period of uncertainty, marking a pivotal moment for the cryptocurrency.
How does the XRP chart indicate future trends?
Despite the recent gains, the XRP chart shows a concerning death cross, indicating potential downward pressure. This technical analysis suggests that while short-term gains are evident, long-term trends may still be uncertain.
Frequently Asked Questions
What is the significance of the SEC lawsuit resolution for XRP?
The resolution of the SEC lawsuit is crucial for XRP as it removes regulatory uncertainty, allowing the cryptocurrency to be traded without the securities tag.
Will XRP’s price continue to rise?
While XRP’s price has surged recently, analysts suggest that future growth will depend on market conditions and potential ETF approvals.
Key Takeaways
- XRP’s price surged over 10%: This increase follows the SEC lawsuit resolution.
- Technical indicators show mixed signals: The death cross raises concerns despite recent gains.
- ETF approvals could drive future growth: Analysts predict potential price increases above $4.
Conclusion
The resolution of the SEC lawsuit has provided a significant boost to XRP, with the price rising sharply. However, mixed technical indicators suggest caution. As the market anticipates ETF approvals, XRP’s future remains a topic of keen interest.
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The recent resolution of the SEC lawsuit has significantly impacted XRP’s price, marking a pivotal moment for the cryptocurrency.
-
Despite the rally, the XRP chart shows a concerning death cross, indicating potential downward pressure.
-
Analysts predict that ETF approvals could push XRP above $4 in the coming months.
XRP price jumps over 10% after the SEC lawsuit resolution, raising hopes for future growth and ETF approvals. Read more for insights.
XRP’s growth not enough?
Despite the obvious rally, the XRP chart has shown the coin flashing an unexpected death cross. This outlook is surprising, considering the coin has turned positive in different periods.
XRP Daily Chart | Source: TradingView
While the seven-day growth comes in at 12.8%, the 30-day rally is pegged at 40.13%. However, this trend is not enough to stop a downward cross of the 9-day and 26-day moving averages.
Before the price of XRP flipped into the positive zone, the coin consolidated well below the $2.9 price mark. From XRP whale shifts to open interest data, the expectation of a positive rebound had remained in the community.
The Ripple and SEC lawsuit, however, proved to be the trigger the coin needed. Overall, it has now freed XRP as an end in itself, with the securities tag now finally lifted.
With this new reality for the coin, the question on the market remains whether it can reclaim its all-time high (ATH) of $3.841.
XRP ETF’s next catalyst
With the legal status of XRP now defined, analysts are speculating that all hurdles around its spot ETF approval have been removed.
ETF Store President Nate Geraci is convinced that BlackRock will also file for an XRP ETF in the coming months. With the U.S. SEC yet to decide on other altcoin ETFs, the expectation is now higher on the market overall.
While the XRP price is likely to slow down in the coming days, the expectation is that ETF approval will push the price of the coin above the $4 range.
