With the general recovery in the crypto currency market, the XRP price has increased by more than 6 %today. With the re -confidence of investors, speculation for the possibility of falling in the case of the Ripple and the US Securities and the Stock Exchange Commission (SEC) is increasing. However, a leading expert stated that the impact of the case on XRP would be limited and predicted that the price of XRP could reach $ 8, regardless of the result of the case.
Will the increase in XRP price continue?
Today, the price of XRP increased by 6.25 %to $ 2.15, while the transaction volume decreased by 32 %to $ 5.16 billion. In the last 24 hours, crypto currency has fluctuated between $ 2,21 and $ 2.02. According to CoNSS data, XRP -term transactions open positions have increased by 7 %, which shows that confidence in the market has regained it. Market analyst Casitrades stated that XRP has completed the current correction process and that the main resistance of crypto currency is now at the level of $ 2.2. He also predicted that the XRP could enter a stronger rise trend if it exceeded $ 2.5.
The effect of the Ripple-SEC case on XRP
Despite the positive atmosphere in the market, the crypto community reacts to the US Sec of SEC’s decision on the Ripple case. Although the SEC has recently reduced many major crypto cases, it has not made any official statement about the long -standing XRP case. John Deaton, the law expert, argues that a compromise should be reached in the ongoing case. On the other hand, market analyst Dark Defender predicts that the XRP price will reach $ 8, regardless of the result of the Ripple-SEC case. Analyst said that XRP has completed the 4th wave at the fibonacci levels and that the 5th wave can carry the price between 5 and 8 dollars.
While the recovery in the XRP price continued, experts evaluated critical levels. Analyst Ali Martinez said that XRP has found a new support at $ 1.65 and that it is critical for the continuation of the upward movement. However, the Rose Premium Signals analyst stressed that the XRP is currently in a retreating phase that tested fibonacci levels, but is expected to make a strong leap from $ 1,2578 support. If this support level is maintained, a large recovery and rise trend in the XRP price may be seen. Potential targets include $ 3,0110 and $ 4,2243.
