Rally

Propel

Time

<p>The post <a href="https://coinpedia.org/news/will-ripple-vs-sec-lawsuit-end-in-august-and-propel-xrp-price/" rel="noopener noreferrer nofollow">Will Ripple vs. SEC Lawsuit End in August and Propel XRP Price?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>In a turbulent crypto market and prolonged bloodbath, XRP has emerged as a notable exception. Daan Crypto Trades, a crypto trader and investor, highlighted XRP’s resilience over the past week, noting its strength despite the broader market downturn. Daan <a href="https://x.com/DaanCrypto/status/1818232364440453123" rel="noopener noreferrer nofollow">sheds </a>light on pivotal scenarios that could sway XRP’s performance in the months ahead.</p>
<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">
   <p lang="en" dir="ltr">Frontrunnooors trying to get <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> exposure before the lawsuit gets closed officially. Expected somewhere in August.<br><br>Doubt we’d see a giant candle like we saw last year but should still give a decent pop upon a positive closure.<br><br>Likely some sell the news after. <a href="https://t.co/b5cEXWqsvP" rel="noopener noreferrer nofollow">https://t.co/b5cEXWqsvP</a></p>— Daan Crypto Trades (@DaanCrypto) <a href="https://twitter.com/DaanCrypto/status/1818232364440453123?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 30, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-xrp-price-poised-for-a-rally-how-and-when"><strong>XRP Price Poised for a Rally – How and When?</strong></h2>
<p>While many cryptocurrencies have experienced significant declines, XRP has managed to hold its ground, hovering around the $0.6 resistance area. XRP’s price has been stuck in a symmetrical triangle, trying to break through the upper resistance. The bulls seem ready and waiting for a strong push to move beyond this key range. However, the resistance zone between $0.67 and $0.71 has remained untouched for a few months, indicating that the bulls are in a prolonged accumulation phase.</p>
<p>One key observation from Daan is the negative shift in XRP’s funding rate. This change often precedes a price increase, suggesting that XRP might be poised for a potential rally in August. The coin’s unexpected strength has led to speculation about possible insider activity driving the price stability.&nbsp;</p>
<h2 class="wp-block-heading" id="h-current-xrp-price-analysis"><strong>Current XRP Price Analysis</strong></h2>
<p>Moreover, the weekly 200-day MA at $0.6006 is offering a strong base for more than a week, which suggests a breakout may be on the horizon. With this, the price is expected to reach $0.65 in no time, followed by a quick jump above $0.7. And if the bulls hold the rally above these levels amid the growing bearish activity, a rise to $0.75 could be imminent, which could be extended to $0.8. Yet touching the $1 mark is not in sight.&nbsp;</p>
<h2 class="wp-block-heading" id="h-good-time-to-buy-hold-or-sell"><strong>Good Time to Buy, Hold or Sell?</strong></h2>
<p>Another significant factor in XRP’s recent performance is the ongoing Ripple vs SEC legal battle. With the lawsuit expected to conclude in August, there has been a noticeable rush among investors to gain exposure to XRP before the official resolution. Daan <a href="https://x.com/DaanCrypto/status/1818232364440453123" rel="noopener noreferrer nofollow">anticipates </a>that while a massive price surge like last year might not occur, a positive outcome could still provide a decent price boost for XRP. However, he also warns of a “sell the news” scenario, where the price may drop following the positive news.</p>
<p>Overall, XRP’s current market behavior and the anticipation of the lawsuit’s closure make it an interesting cryptocurrency to watch in the coming weeks.</p>

Will Ripple vs. SEC Lawsuit End in August and Propel XRP Price?

Table of Contents

CoinPedia News

Autres articles publiés le 30 juil. 2024

5 Altcoins That Could See Massive Gains with Bitcoin’s Rise

Chainlink Proof of Reserve Now Backs 21Shares Core Ethereum ETF

BlackRock Predicts Crypto-Backed ETFs Will Enter Model Portfolios by Late 2024

SHIB Metric Jumps 7334% Ahead of Key Update

Grayscale sheds $20B from Bitcoin and Ether ETFs

Binance Labs Announces 1st Batch of Season 7 Incubation Projects

Join our free newsletter for daily crypto updates!