TL;DR
<ul>
 <li>The SEC’s continued legal action caused a temporary drop in XRP’s price, but analysts remain confident about its long-term outlook.</li>
 <li>BTC rebounded to over $63,500, with bullish predictions for a potential rally toward $100,000 and beyond.</li>
 <li>ETH recovered to nearly $2,500, with analysts forecasting a move to $2,800 amid reduced exchange reserves.</li>
</ul>
<h2 id="span-data-preserver-spaces-true-a-href-https-cryptopotato-com-wp-content-uploads-2024-10-recap_cb-10-jpg-data-wpel-link-internal-rel-noopener-noreferrer-nofollow-a-span"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/Recap_CB-10.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></h2>
<h2 id="xrp-s-ups-and-downs">XRP’s Ups and Downs</h2>
The US SEC’s decision to continue its legal battle with Ripple has been among the top-trending topics in the cryptocurrency space as of late. Recall that the agency <a class="editor-rtfLink" href="https://cryptopotato.com/xrp-price-crashes-12-as-sec-appeals-in-the-ripple-lawsuit/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">appealed</a> a 2023 verdict set by Federal Judge Torres. Back then, the magistrate ruled that secondary sales of XRP did not constitute securities sales. The regulator had until October 7 to contend, filing its documents mere days before the deadline.
Unsurprisingly, XRP’s price reacted negatively following the news. It plunged by double digits to as low as $0.51 on October 3. In the following days, the token traded somewhat sideways before registering a mild rebound in the past 24 hours. Currently, it is worth around $0.54 (per CoinGecko’s data), representing a 2% increase on a daily scale. 
<figure id="attachment_364587" aria-describedby="caption-attachment-364587" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-3.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-364587" src="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-3.png" alt="XRP Price" width="580" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-3.png 1052w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-3-300x207.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-3-1024x707.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-3-768x530.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-3-50x35.png 50w" sizes="(max-width: 580px) 100vw, 580px"></a>
 <figcaption id="caption-attachment-364587" class="wp-caption-text">
 XRP Price, Source: CoinGecko
 </figcaption>
</figure>
The asset’s poor performance seems to have not changed the bullish attitude of numerous cryptocurrency analysts. The popular X user Dark Defender <a class="editor-rtfLink" href="https://cryptopotato.com/xrps-fundamentals-are-still-solid-despite-secs-appeal-in-ripple-lawsuit-analysts/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">claimed</a> that “nothing has changed” for the firm and its native token after the latest development in the case.&nbsp;
<blockquote>
 “The SEC appeal is a pure blunder and will separate the 1% from the entire population with a poor mindset. The price is not dependent on this lawsuit, as we analyzed before,” they added.
</blockquote>
<h2 id="span-data-preserver-spaces-true-btc-is-back-on-the-green-track-span">BTC is Back on the Green Track</h2>
XRP was one of the many cryptocurrencies heading south last week. Bitcoin (BTC), for example, briefly <a class="editor-rtfLink" href="https://cryptopotato.com/bitcoin-dumps-4000-as-fear-grips-markets-on-middle-east-conflict/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">dropped</a> to $60,000 on October 2 following the reports of the escalating conflict in the Middle East.&nbsp;
<figure id="attachment_364586" aria-describedby="caption-attachment-364586" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-364586" src="https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price.png" alt="BTC Price" width="587" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price.png 1047w, https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-300x204.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-1024x697.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-768x523.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-50x34.png 50w" sizes="(max-width: 587px) 100vw, 587px"></a>
 <figcaption id="caption-attachment-364586" class="wp-caption-text">
 BTC Price, Source: CoinGecko
 </figcaption>
</figure>
However, it entered a recovery phase in the past few days and is currently standing at over $63,500. Despite the enhanced volatility, BTC is up approximately 50% year-to-date (YTD), and many industry participants envision further gains.&nbsp;
The X user Sensei <a class="editor-rtfLink" href="https://x.com/SenseiBR_btc/status/1843166994926883296" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">spotted</a> the emergence of a potential “bull flag breakout” on the price chart, which could be a precursor to a rally toward a new all-time high of $100,000.
OxNobler was optimistic, too, <a class="editor-rtfLink" href="https://x.com/CryptoNobler/status/1843012311176691830" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">arguing</a> that every major bull run has historically started in October. “The next target for BTC is $260,000, and many alts will follow the lead,” the analyst assumed.&nbsp;
<h2 id="span-data-preserver-spaces-true-how-s-eth-doing-span">How’s ETH Doing?</h2>
Ethereum (ETH) also underperformed last week, falling to nearly $2,300. Its current price condition, though, looks much better, trading at almost $2,500.&nbsp;
<figure id="attachment_364585" aria-describedby="caption-attachment-364585" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/ETH.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-364585" src="https://cryptopotato.com/wp-content/uploads/2024/10/ETH.png" alt="ETH Price" width="584" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/ETH.png 850w, https://cryptopotato.com/wp-content/uploads/2024/10/ETH-300x205.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/ETH-768x526.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/ETH-50x34.png 50w" sizes="(max-width: 584px) 100vw, 584px"></a>
 <figcaption id="caption-attachment-364585" class="wp-caption-text">
 ETH Price, Source: CoinGecko
 </figcaption>
</figure>
The X user EliZ <a class="editor-rtfLink" href="https://x.com/eliz883/status/1843164029315064240" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">believes</a> ETH may soon rise to the resistance level of $2,800, while some on-chain metrics also suggest a possible spike.&nbsp;
Exchange reserves, for instance, have been on a <a class="editor-rtfLink" href="https://cryptoquant.com/asset/eth/chart/exchange-flows/exchange-reserve?exchange=all_exchange&amp;window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">downfall</a> lately. This could indicate a shift from centralized platforms toward self-custody methods, hence a reduced immediate selling pressure.
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The post <a href="https://cryptopotato.com/whats-next-for-ripple-xrp-price-following-the-sec-appeal-bitcoin-btc-resurgence-and-more-bits-recap-oct-7/" rel="noopener noreferrer nofollow">What’s Next for Ripple (XRP) Price Following the SEC Appeal, Bitcoin (BTC) Resurgence, and More: Bits Recap Oct 7</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

What’s Next for Ripple (XRP) Price Following the SEC Appeal, Bitcoin (BTC) Resurgence, and More: Bits Recap Oct 7

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