Cryptocurrency

Solana

April

<div class="finbold"> 
 <p class="paragraph">In the ever-evolving world of cryptocurrencies, XRP investors have closely monitored the coin’s <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> movements since the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple took an unexpected turn on July 13. Ripple, the company behind XRP, received a significant reprieve when the court ruled that XRP is not a security, sparking a temporary surge in its <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>.&nbsp;</p> 
 <div></div>
 <p class="paragraph">In this line, a prominent crypto analyst <em>TradingShot</em>, in a <em>TradingView</em> post on September 13, offered a glimpse of what to expect for XRP in the coming months while acknowledging that the positive influence from the court rilling has faded.&nbsp;</p> 
 <p class="paragraph">The analyst pointed out that following the ruling, XRP witnessed a swift surge that pushed its price above $0.90 for the first time since April 2022. However, this euphoria was short-lived, as XRP’s value began to decline in two aggressive phases.</p> 
 <figure class="wp-block-image aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="587" src="https://cdn.thebittimes.com/images/2023/09/16/1123e20811b706887b21fbd9405c22b9.webp" alt class="wp-image-128708" srcset="https://cdn.thebittimes.com/images/2023/09/16/1123e20811b706887b21fbd9405c22b9.webp 1024w, https://cdn.thebittimes.com/images/2023/09/16/1123e20811b706887b21fbd9405c22b9.webp 300w, https://cdn.thebittimes.com/images/2023/09/16/1123e20811b706887b21fbd9405c22b9.webp 768w, https://cdn.thebittimes.com/images/2023/09/16/1123e20811b706887b21fbd9405c22b9.webp 1087w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <em>XRP price analysis chart. Source: TradingView</em>
  </figcaption>
 </figure> 
 <h2 class="wp-block-heading" id="h-xrp-price-prediction-for-october-2023">XRP price prediction for October 2023</h2> 
 <p class="paragraph">In his <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, this decline ultimately led to XRP falling below the 1D MA50 (50-day moving average on a daily <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> chart), breaching critical support levels, and touching the 1-day MA200 and the 1-week MA50.&nbsp;</p> 
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8"> 
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto"> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/16/878c70f90a06ed8f93ff0fb4591c757e.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="3-cryptocurrencies-under-1-to-consider-buying-next-week"> 3 cryptocurrencies under $1 to consider buying next week </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/16/2332d12ebb2fb86c3ffd348381f50263.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="solana-price-at-risk-ftx-wins-approval-to-offload-1-6-billion-sol"> Solana price at risk? FTX wins approval to offload $1.6 billion SOL </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/16/daff6016e5c398e0724ca3fde616e75e.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="8-crypto-exchanges-control-90-of-the-market-s-liquidity"> 8 crypto exchanges control 90% of the market’s liquidity </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/16/3d412aab2fce41bf0bb46f5578641559.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="chatgpt-predicts-xrp-price-in-2024-2028-2032-and-2050"> ChatGPT predicts XRP price in 2024, 2028, 2032 and 2050 </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/15/fe13b8c1b7dc0bb3b905ff3ac025d70c.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="should-you-buy-bitcoin-in-september"> Should you buy Bitcoin in September? </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
  </div> 
 </div> 
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment"> 
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;"> 
  </div> 
 </div> 
 <p class="paragraph">These key moving averages now form the current support zone for XRP, indicating the level at which buyers are stepping in to support the cryptocurrency.&nbsp;</p> 
 <p class="paragraph">In light of these observations and technical <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>,<em> TradingShot</em> expressed a bullish outlook for XRP. The analyst set a medium-term <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> target at $0.56750 for October, indicating optimism that XRP’s value will continue to rise in the coming month.</p> 
 <h2 class="wp-block-heading" id="h-xrp-price-prediction-for-january-2024">XRP price prediction for January 2024</h2> 
 <p class="paragraph">One of the notable aspects of <em>TradingShot’s</em> <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> is the observation of the 1-day Relative Strength Index (RSI) forming higher lows. Notably, this pattern potentially signifies the formation of a bottom sequence similar to what was observed on January 02, 2023, and June 13, 2022.</p> 
 <p class="paragraph">By comparing the current market dynamics to the pattern that emerged between June and December 2022, <em>TradingShot</em> draws parallels to the April-September 2023 period. This comparison suggests that XRP’s price trajectory may follow a similar pattern with bullish implications.</p> 
 <p class="paragraph">Looking further into the future, <em>TradingShot</em> also outlined a long-term target of $0.9300 for January 2024. This long-term projection suggests that the positive momentum may extend well into the new year.&nbsp;</p> 
 <blockquote class="wp-block-quote"> 
  <p class="paragraph">“As a result we are bullish and have a medium-term target at $.56750 for October and long-term target at $0.9300 for January 2024,” the analyst stated.&nbsp;</p> 
 </blockquote> 
 <p class="paragraph">As XRP investors navigate this evolving landscape, the recent legal victory against the SEC undoubtedly boosted confidence in the cryptocurrency. </p> 
 <h2 class="wp-block-heading" id="h-xrp-price-analysis">XRP price analysis</h2> 
 <p class="paragraph">As of press time, XRP was trading at $0.50, showing daily gains of approximately 0.65%. Over the past seven days, the token has largely maintained stability, with a marginal 0.5% decrease in value on the weekly chart.</p> 
 <figure class="wp-block-image aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/09/16/d5c2a5764f7e8ff3252c6e3f1238b9e0.webp" alt class="wp-image-128707" srcset="https://cdn.thebittimes.com/images/2023/09/16/d5c2a5764f7e8ff3252c6e3f1238b9e0.webp 1024w, https://cdn.thebittimes.com/images/2023/09/16/d5c2a5764f7e8ff3252c6e3f1238b9e0.webp 300w, https://cdn.thebittimes.com/images/2023/09/16/d5c2a5764f7e8ff3252c6e3f1238b9e0.webp 768w, https://cdn.thebittimes.com/images/2023/09/16/d5c2a5764f7e8ff3252c6e3f1238b9e0.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <em>XRP seven-day price chart. Source: Finbold</em>
  </figcaption>
 </figure> 
 <p class="paragraph">It is worth noting that the SEC case continues to play a key role in determining the valuation of XRP. In the meantime, parties in the case await the second legal showdown, as the SEC intends to appeal. Additionally, the trial for XRP executives is scheduled for next year.</p> 
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
 <p class="paragraph"> </p>
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/xrp-price-prediction-for-october-as-sec-steam-evaporates-tbt62959.html">https://thebittimes.com/xrp-price-prediction-for-october-as-sec-steam-evaporates-tbt62959.html</a></p>

XRP price prediction for October as SEC steam evaporates

Table of Contents

TheBitTimes

Other articles published on Sep 16, 2023

German Finance Leaders Launch Fully-Insured Crypto Staking

UBER Stock Price Prediction: Will Uber Price Crash On Monday?

Top 3 Memecoins to Bet on in 2023: Pepe, Floki, and Pomerdoge

Bitcoin (BTC) Price to Surge Above $30K in October – Predicts Crypto Analyst

Solana-Backed Altcoins RLB and OX Soar 500% Due to Trader Opportunity

Former Coinbase Executives Raise $8 Million In Seed Round

Join our free newsletter for daily crypto updates!