Rally

April

Redacted

XRP price prediction: XRP price has been marketed for some time now as the only digital asset with legal clarity and a real-world use case, but the price hasn’t been moving much. However, the crypto community is warming up to some news that may be positive for the asset’s price. <a href="https://coingape.com/price/xrp/">XRP price</a> traded around $0.51 during European trading hours on Monday, a 0.1% increase in the past 24 hours and a 2.4% decrease in the past 7 days.&nbsp; 
<h2 id="span-style-font-weight-400-xrp-price-prediction-can-bulls-score-a-5-rally-out-of-this-falling-wedge-span">XRP Price Prediction: Can Bulls Score a 5% Rally Out Of This Falling Wedge?&nbsp;</h2> 
<img decoding="async" class="aligncenter size-full wp-image-200174" src="https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-03-at-09.27.03.jpeg" alt="xrp price" width="1280" height="565" srcset="https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-03-at-09.27.03.jpeg 1280w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-03-at-09.27.03-300x132.jpeg 300w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-03-at-09.27.03-1224x540.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-03-at-09.27.03-768x339.jpeg 768w, https://coingape.com/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-03-at-09.27.03-150x66.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px"> 
Ripple price has been in a falling channel for the past week, making lower lows and lower highs. The asset is also trending inside a larger consolidation zone that spans two months, indicating a struggle between bulls and bears.&nbsp; 
Additionally, the <a rel="nofollow" href="https://coinmarketcap.com/currencies/xrp/">price of XRP</a> is trending slightly below the 50-day and 200-day simple moving averages (<a href="https://coingape.com/education/simple-moving-average-how-to-leverage-it-in-crypto-market/">SMA</a>), further confirming the contention between bears and bulls. XRP price action hit the upper boundary of the range on May 21 and has been traveling downward since then to test the lower boundary. 
However, the price action has formed a falling wedge and is approaching the end of the market structure. A breakout to the upside may result in a 5.8% rally, propelling the price above the consolidation zone. 
If this happens, the XRP price may rise even higher and touch the previous high of $0.74. On its way up, the asset may experience strong resistance around $0.57 and some resistance around $0.66. In an inverse scenario, key support areas exist around $0.5, $0.48, and $0.46.&nbsp; 
<h2 id="span-style-font-weight-400-xrp-price-increase-catalyst-final-judgement-on-the-way-span">XRP Price Increase Catalyst: Final Judgement on the Way</h2> 
Last year, Judge Analisa Torres made a ruling in favor of XRP, and the price immediately surged close to $1. Recently, in a joint proposal to the Southern District Court of New York, Ripple and the <a rel="nofollow" href="https://www.sec.gov">SEC</a> agreed on a timeline for filing and redacting briefs related to the upcoming remedies phase. On March 22, the SEC filed its opening remedies brief, to which <a href="https://coingape.com/ripple-vs-sec-is-xrp-prepared-for-unexpected-twist-ahead/">Ripple</a> countered on April 22.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING RIPPLE VS. SEC NEWS: 
 The SEC has filed, under seal, its remedies reply brief &amp; supporting exhibits.<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2696.png" alt="⚖" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 These documents are not yet public. public, redacted versions will be filed by Wednesday, May 8, 2024! <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> <a href="https://t.co/tBarSTtRiC">pic.twitter.com/tBarSTtRiC</a> 
 — 𝓐𝓶𝓮𝓵𝓲𝓮 (@barbie_xrpie) <a href="https://twitter.com/barbie_xrpie/status/1796281226833129494?ref_src=twsrc%5Etfw">May 30, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The coming days could be monumental for XRP price, as in the latest (May 8, 2024) SEC filing, Redacted Remedies Reply Brief, the agency has asked the court to “enter the Proposed Final Judgment as a Final Judgment.” 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING RIPPLE VS. SEC NEWS: 
 The SEC has filed its redacted remedies reply brief &amp; supporting exhibits. 
 „For these reasons, the Court should enter the Proposed Final Judgment as a Final Judgment." 
 Final judgement on the way! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2696.png" alt="⚖" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw">#Ripple</a><a href="https://t.co/XT3yJKRnst">https://t.co/XT3yJKRnst</a>.. <a href="https://t.co/0JSlUMb3Tz">pic.twitter.com/0JSlUMb3Tz</a> 
 — 𝓐𝓶𝓮𝓵𝓲𝓮 (@barbie_xrpie) <a href="https://twitter.com/barbie_xrpie/status/1796636955163197561?ref_src=twsrc%5Etfw">May 31, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="span-style-font-weight-400-bottom-line-span">Bottom Line</h2> 
The SEC lawsuit against Ripple, which began in December 2020, has had a big but negative impact on price. XRP price looks ready to break out, but the outcome wholly depends on the case outcome. 
The post <a href="https://coingape.com/markets/xrp-price-analysis-bulls-ready-for-breakout-rally-as-final-judgment-looms/">XRP Price Prediction: Bulls Ready for Breakout Rally as Final Judgment In Ripple vs SEC Looms&nbsp;</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP Price Prediction: Bulls Ready for Breakout Rally as Final Judgment In Ripple vs SEC Looms

Table of Contents

Coingape News Media

Other articles published on Jun 3, 2024

Analyst Predicts Ethereum’s Potential Surge to $4,200

Coinbase Donates $25 Million Towards Voting Out Anti-Crypto Politicians

Binance To Delist OMG, WAVES, WNXM, XEM On June 17

Prediksi Harga Kripto: Bitcoin Incar di Atas US$70 Ribu, ETH Sasar US$4.500, dan Bonus 25 Persen ...

TrumpCrypto.io Launches $TRUMP Coin with Focus on Social Impact and Practical Uses

BlockDAG’s New Keynote Causes Waves as 10.6B BDAG Coins Sold Amid Polygon’s Surge in Transactions...

Join our free newsletter for daily crypto updates!