Ripple (XRP) Price Prediction as SEC vs Ripple Verdict Expected

Blockchain
0

Join Our Telegram channel to stay up to date on breaking news coverage

XRP, the native token of the Ripple blockchain, has experienced a significant increase in value over the past week. Despite this recent surge in price, however, it is difficult to accurately predict the future of XRP’s value, particularly as the company is expected to face a verdict soon in the SEC vs Ripple court case.

Currently priced at $0.3691, XRP has experienced a 5.25% increase in the last 24 hours, outpacing the broader market’s 0.39% rise. As the market rally slows, here’s XRP’s price prediction.

XRP Price Prediction and Technical Analysis

Exponential Moving Average (EMA)

With today’s increase in trading activity, the XRP price is attempting to clear the 20-day and 50-day EMA. Breaking out from these levels would indicate that the cryptocurrency is poised for a bullish bias for the short to medium-term future.

Relative Strength Index (RSI): XRP Price Prediction

XRP has been trading below the key level of RSI 50 for over two months. As of writing, XRP is now attempting to break out of this level, currently sitting at 58.34. A successful close above this level today could signal a potential uptrend in the near future.

Furthermore, an in-depth analysis of the price action and relative strength index (RSI) suggests that a potential bullish divergence may have occurred with the price registering a double bottom while the RSI formed higher lows. This is another indicator of a positive outlook for XRP.

Moving Average Convergence Divergence (MACD)

The MACD is still in a bullish crossover position that was formed on December 26. The histogram shows a steady and gradual increase in the separation between the MACD and signal line as the indicator approaches the zero line.

XRP Price Action and Key Levels of Support and Resistance

The XRP price is trading at $0.3691, approaching the range high of $0.3731 which it has been trading since the second half of December. The immediate resistance for the cryptocurrency lies in the range of $0.3730 to $0.3820, coinciding with the 100-day EMA. If successful, the next target would be $0.3970 for a potential 3.9% swing.

Ripple (XRP) Fundamental Analysis

FLR Token Airdrop

Another major development for XRP is the completion of the FLR token airdrop. The FLR token is the native token for Flare, a blockchain platform that aims to optimize interoperability among decentralized applications and other blockchains.

The platform launched its main net on July 11, 2022, and has already processed over 70 million transactions. Flare is also working towards becoming a smart contract protocol that utilizes the XRP Ledger. As part of this effort, Flare developers had promised to airdrop FLR tokens to XRP holders who participated in a snapshot in December 2020. This promise was finally fulfilled on Monday, with over 4.2 billion FLR tokens distributed.

Ripple vs SEC Case

The high-profile case between blockchain firm Ripple and the Securities Exchange Commission (SEC) is drawing increasing attention as a non-party in the case, the Investment Banker Declarant has filed a motion to redact a previous declaration supporting the SEC’s request for summary judgment.

The Investment Banker Declarant had previously sought to join the case to assist the SEC’s investigation of Ripple. Meanwhile, the SEC has also filed another motion to seal specific documents, which has caused an uproar from the cryptocurrency community. While some speculate that the case may favor Ripple, United States attorney Jeremy Hogan believes both sides have an equal chance of winning. The case, which involves allegations of Ripple selling unregistered securities in the form of XRP tokens, raising over $1.3 billion, has been ongoing for three years.

The case could greatly impact the price of XRP, depending on the outcome. If the SEC wins and classifies XRP as a security, it could greatly reduce its liquidity and trading volume and subject Ripple to penalties, plummeting the price.

However, if Ripple wins, it could lead to increased trading volume and liquidity for XRP, with a rapid pump in the price. The case might also end in a settlement, the effects of which are difficult to predict. Either way, the final decision will surely create volatility in the XRP price.

Alternative Cryptocurrencies to Invest In

As we move further into 2023 and possible market recovery, investors in the cryptocurrency market should consider diversifying their portfolios by looking beyond the most well-known coins like XRP. Alternative coins with strong underlying fundamentals, such as MEMAG, FGHT, CCHG, TARO, and RIA may offer greater growth potential. By conducting thorough research and making strategic investments, these newer altcoins could potentially be highly profitable in the upcoming year.

Meta Masters Guild (MEMAG)

Meta Masters Guild (MMG) is an upcoming Web3 gaming guild connecting users to a vibrant decentralized game community that rewards players for their participation. Players will receive MEMAG cryptocurrency as compensation for their accomplishments and are able to maintain full ownership of in-game assets.

The MMG platform is designed to reward players for their contributions of both time and money, guaranteeing that they are fairly compensated. Player satisfaction through enjoyable game-play, sustainability as well as community interaction are the primary objectives.

By developing a fair and transparent ecosystem, the company is providing solutions to some of the major issues plaguing the gaming industry today. This open in-game economy will enable players to swap their items from games with one another as they desire. Their first game release is Meta Kart Racers: an exciting PVP racing experience designed for mobile devices. As news of this launch reaches investors around the globe, interest in MEMAG’s token presale has been rapidly escalating.

Visit Meta Masters Guild Now

Fight Out (FGHT) Set to Pack a Punch

Fight Out is set to give fitness enthusiasts new tools in 2023 with its cutting-edge move-to-earn (M2E) app and gym chain. The company’s smart technology will enable users to gain rewards for their physical activity while participating in challenges against other members to accumulate REPS tokens.

These tokens can then be used to obtain discounts on membership packages, subscriptions, and merchandise such as apparel, dietary supplements, or training equipment. Fight Out’s app and gym locations will encourage a supportive community where people can cheer each other on as they strive towards their fitness goals.

Fight Out’s approach to personal health and fitness is unique, featuring an NFT-based avatar that tracks users’ physical achievements and levels up as they progress. This system, paired with tangible rewards and social motivation from other users, creates a powerful framework designed to motivate people towards becoming healthier versions of themselves.

Fight Out’s first physical gym location is set to open in the fourth quarter of 2023, featuring state-of-the-art equipment and services, including studios for rent, health bars, and co-working areas. The gym will also utilize advanced Web3-connected technology, such as “mirrors” that display users’ digital fitness profiles and sensors that track progress, all while offering insights and earning rewards. The company is also developing an ambassador program that will feature top boxers and athletes who will hold masterclasses and other exclusive events.

It’s clear that Fight Out’s potential within the growing health and fitness industry is vast, and the company’s innovative app and tech features, along with the support of some of today’s top athletes, have captured the attention of investors. The Fight Out token has been in high demand since its launch, raising over $2.85 million in a matter of weeks. The close of stage 1 of the pre-sale is approaching fast, offering investors an outstanding opportunity to get involved with up to a 50% bonus on investments above $50K.

Visit Fight Out Now

C+Charge (CCHG)

C+Charge is an upcoming peer-to-peer payment and information system for EV drivers and charge stations that makes charging EVs more affordable and convenient. With its innovative blockchain-based platform, the company connects EV owners with charging networks that can otherwise be difficult to locate and allows them to pay for their charging sessions with ease and earn carbon credits at the same time.

The need for a platform like C+Charge is evident as the number of EVs on the road continues to grow, along with the associated costs of charging. In many metropolitan areas, electricity costs can be high, making it increasingly expensive for EV owners. C+Charge’s platform allows users to pay for their charging sessions from wherever they are, reducing costs and making the process more convenient.

By providing solutions to many problems related to EV charging today, such as lack of access to carbon credits, no rewards for EV drivers, lack of a unified EV charging payment solution, non-transparent pricing, lack of real-time information, and shortages of charging solutions, C+Charge could be a game-changer in the EV industry.

Investors can now take advantage of the opportunity to purchase C+Charge tokens during the presale at an introductory rate of $0.013 USDT per token. The token price will increase over the course of three additional stages, with the final maximum price of $0.02350.

Visit C+Charge Now

Related:

IMPT – New Green Crypto Project

Best crypto IMPT
  • Doxxed Professional Team
  • Listed on Uniswap, LBank, Changelly
  • Presale Raised $20.5 Million
  • Use Cases in Industry – Carbon Offsetting

Best crypto IMPT


Join Our Telegram channel to stay up to date on breaking news coverage


Credit: Source link

You might also like More from author
Leave A Reply

Your email address will not be published.