XRP Price Bull Run: The CEO of Ripple Brad Garlinghouse has criticized the Securities and Exchange Commission (SEC), saying that the agency has lost multiple lawsuits with&nbsp;<a href="https://coingape.com/is-xrp-etf-next-ripple-ceo-share-key-details/" rel="noopener noreferrer nofollow">Ripple</a>&nbsp;winning the majority of the core issues in the ongoing court battle.
Garlinghouse’s comments come after the successful rollout of&nbsp;<a href="https://coingape.com/bitcoin-etf-blackrock-ibit-grayscale-gbtc-plunge-pre-market-after-weak-inflow/" rel="noopener noreferrer nofollow">Bitcoin ETFs</a>&nbsp;in the US.
XRP price continues with the retreat from February’s peak at $0.58, down more than 5% on the day to $0.538.
<h2 class="p1" id="garlinghouse-defends-ripple-ignites-buzz-on-potential-etf">Garlinghouse Defends Ripple, Ignites Buzz On Potential ETF</h2>
Ripple partially won the lawsuit against the&nbsp;<a href="https://coingape.com/ripple-vs-sec-pro-xrp-lawyer-expects-heated-clash-centering-odl-sales/" rel="noopener noreferrer nofollow">SEC</a>&nbsp;in July, when Judge Analisa Torres ruled that XRP is not to be considered a security, particularly in the secondary market.
According to Garlinghouse who was speaking in an interview at Bloomberg TV, the SEC has a history of losing cases, highlighting Coinbase, Ripple, and Grayscale.
In a swift turn of events, the Ripple executive welcomed the idea of a Ripple ETF, implying that it is possible, especially with the first spot Bitcoin ETFs trading in the US.
The shift to a Ripple ETF caught the crypto community’s attention, which has been mulling over the possibility of a spot <a href="https://coingape.com/spot-ethereum-etf-how-will-bitcoin-aid-in-ethereum-price-rally/" rel="noopener noreferrer nofollow">Ethereum ETF</a>. Garlinghouse also talked about the need to spearhead crypto regulation.
Recommended: <a href="https://coingape.com/markets/5-meme-coin-altcoins-to-buy-tech-savvy-investors-turn-to-eth-sol/" target="_blank" rel="noopener noreferrer nofollow">5 Meme Coin Altcoins To Buy: Tech-Savvy Investors Turn To ETH, SOL</a>
<h2 class="p1" id="xrp-price-prediction-are-traders-ready-to-buy-the-dip">XRP Price Prediction: Are Traders Ready To Buy The Dip</h2>
XRP price sustained an uptrend before last week, topping at $0.58 on Friday. The cross-border money remittance token experienced the first flash drop to $0.54 but due to the support highlighted by the 50-day Exponential Moving Average (EMA), it rebounded, albeit briefly to $0.5735.
As&nbsp;<a href="https://coingape.com/ether-eth-to-outperform-bitcoin-btc-in-coming-months-bloomberg/" rel="noopener noreferrer nofollow">Bitcoin</a>&nbsp;stalled due to an important resistance at $53,000 this week, XRP price fell victim to another sell-off round such that it is testing the same support at $0.54 toward the end of the European session on Wednesday.
Intraday traders would be on the lookout for acceptance above the dotted trendline, which coincides with the 200-day EMA (the purple line on the chart) to confirm the beginning of another trend reversal.
<figure id="attachment_181766" aria-describedby="caption-attachment-181766" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-181766" src="https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11.png" alt="XRP price prediction" width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11.png 2710w, https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
 <figcaption id="caption-attachment-181766" class="wp-caption-text">
 XRP price chart | Tradingview
 </figcaption>
</figure>
The sell signal in the Moving Average Convergence Divergence (MACD) indicator warns against scooping the current dips, at least until the 200-day EMA resistance is flipped.
However, if more traders choose to dwell on shorting XRP, a drop to the lower trendline impends.
Long-term holders may find this drop to $0.54, $0.52 (the lower trend line), and even to $0.5, a chance to dollar-cost average backed by the possibility of Ripple winning the lawsuit and an ETF after that.
<h3 class="p1" id="related-articles">Related Articles</h3>
<ul>
 <li><a href="https://coingape.com/cardano-ada-is-dog-shit-bitmex-founder-arthur-hayes/" rel="noopener noreferrer nofollow">Cardano (ADA) Is ‘Dog Shit’- BitMex CEO Arthur Hayes</a></li>
 <li><a href="https://coingape.com/bitcoin-price-btc-heading-10-correction-next-3-days/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Price: Is BTC Heading For A 10% Correction In Next 3 Days?</a></li>
 <li><a href="https://coingape.com/crypto-super-pac-fairshake-amass-85-million-for-us-elections-2024/" target="_blank" rel="noopener noreferrer nofollow">Crypto Super PAC Fairshake Amass $85 Million for US Elections 2024</a></li>
</ul>
The post <a href="https://coingape.com/markets/xrp-price-prediction-key-factors-driving-xrp-bull-run-including-etf-and-ripple-v-sec/" rel="noopener noreferrer nofollow">XRP Price Prediction: Key Factors Driving XRP Bull Run, Including ETF and Ripple v. SEC</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Price Prediction: Key Factors Driving XRP Bull Run, Including ETF and Ripple v. SEC

목차

Coingape News Media

2024년 2월 21일에 게재된 다른 기사

Next Crypto to Hit $1 in 2024: Top 7 Picks

13 Best New Crypto Casinos in 2024

ChatGPT Goes Off The Rails, Spewing Nonsense to Users

XRP (XRP) Price Climbs, Flow (FLOW) Price Prediction – Pullix (PLX) Predicted to 100x As Token Is...

Crypto Prices Today: Bitcoin at $51K, Ethereum Nears $3,000 As XRP, SOL, PEPE Dip

Will you still trust DOGE after reading this?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!