Rally

Ignite

The post <a rel="nofollow" href="https://coinpedia.org/altcoin/ripple-news-top-3-catalysts-that-can-trigger-xrp-price-rally/">Ripple News: Top 3 Catalysts That Can Trigger an XRP Price Rally</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
The <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/">XRP price</a> has been gradually declining, continuing a bearish trend from the previous week. With dwindling trade volume, XRP is now hovering around 48 cents, down 3.3% in the past 24 hours and below the 200-day weighted <a href="https://coinpedia.org/traders/guide-on-moving-averages-technical-analysis/">moving average</a> (WMA). 
Despite this dip, which puts XRP about 3% away from erasing its mid-July gains, crypto influencer Zach Rector believes the token is on the cusp of a bullish resurgence, primarily driven by developments surrounding the <a href="https://coinpedia.org/news/the-latest-in-ripple-vs-sec-weekly-news-roundup/">SEC vs. Ripple</a> lawsuit. 
Let’s Explore what he has to say. 
<h2 id="bullish-outlook-for-xrp" data-name="bullish-outlook-for-xrp" class="wp-block-heading"> Bullish Outlook for XRP </h2> 
XRP’s year-to-date bullish momentum took a hit when the digital asset slipped below a critical support/resistance level of 53 cents in recent weeks. However, Rector remains optimistic, citing several potential catalysts for a bullish XRP surge. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Here are the 3 Catalysts that lead to the next BIG move for XRP! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"> 1. Judge Torres DENIES SEC Appeal 2. First US bank or institution goes LIVE with ODL XRP 3. SEC &amp; Ripple Settle Let me know how high we pump after these events… <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;">— Zach Rector (@ZachRector7) <a href="https://twitter.com/ZachRector7/status/1701044979324661800?ref_src=twsrc%5Etfw">September 11, 2023</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
SEC Appeal to Fall Through? 
One key event is the SEC’s appeal of the summary judgment ruling that XRP sales on exchanges should not be classified as investment contracts and therefore not considered securities. Rector is confident that the <a href="https://coinpedia.org/news/crypto-twitter-speculates-will-judge-torres-deny-secs-motion-in-ripple-lawsuit/">SEC’s appeal</a> will fail, as the initial ruling highlighted a lack of sufficient evidence to label XRP sales on exchanges as security assets. 
Read More: <a href="https://coinpedia.org/news/ripple-vs-sec-even-the-supreme-court-cant-tame-the-sec/">“You are Making a Mockery of the US Government”: Crypto Community Slams SEC’s Ripple Appeal</a> 
Banks to Adopt ODL?! 
Another potential catalyst is the adoption of the On-Demand Liquidity (ODL) program, powered by XRP, by a US-based bank or financial institution. This adoption would significantly reinvigorate XRP bulls and potentially drive up its value, especially in the context of cross-border payments. 
A Settlement is On the Cards 
Finally, a settlement agreement between the SEC and Ripple is viewed as another major factor that could propel XRP into a substantial move. Such an agreement would not only resolve the legal uncertainties surrounding XRP but also provide much-needed clarity for XRP investors. The prospect of a settlement continues to be a key point of interest for those closely monitoring the cryptocurrency’s future. 
Also Read: <a href="https://coinpedia.org/news/ripple-news-the-most-traded-altcoin-xrp-outpaces-competitors-by-4x-reveals-kaiko-data/">Ripple News: The Most Traded Altcoin: XRP Outpaces Competitors by 4x, Reveals Kaiko Data</a> 
Is it time to buy the dip on XRP? Let us know!

Ripple News: Top 3 Catalysts That Can Trigger an XRP Price Rally

Table of Contents

CoinPedia News

Other articles published on Sep 11, 2023

Nasdaq Gets Approval From SEC for AI-based Trade Orders

FTX To Liquidate $3.4 Billion in Cryptocurrencies

"Ride the Crypto Derby: Bitpaid's Virtual Horse Racing Adventure!"

G20 Leaders Decide on Swift Implementation of Crypto Asset Reporting Framework

Coinbase Now Offers Interest Rate of 5% on USDC; A 150% Rise

How to Mint and Upgrade a Frontier Ship?

Join our free newsletter for daily crypto updates!