XRP’s Progress – Will it Ascend?
While the crypto industry, in general, is experiencing an uprise, the year has not been the best for some cryptos. Many renowned currencies are witnessing constant price fluctuations, and Ripple is not one of them. With the ongoing case with the SEC, XRP has been under the spotlight for a long time. The crypto witnessed a collapse, resulting in its value falling to 1.03 dollars. Many expected the coin to stay there; however, it showcased a miraculous recovery on the four-hour chart.
An Uprise in Ripple’s Price
As of writing, XRP (Ripple) is showcasing a 40% growth, making its value 1.40 dollars. The crypto reached the number in the previous week’s start as well. If the trend pertains, experts believe XRP to maintain the price between 1.22 to 1.41 dollars. Even better, if the bulls favor XRP’s momentum, it can very well end up reaching the next high at 1.74 dollars. If Ripple continues its growth cycle, it might just break its year-high record of 1.98 dollars. However, the investors do not appear to be believing the trend at all.
Even at a reasonable price of 1.40 dollars, Ripple is not getting many market investments. A reason behind the same can be the ongoing case against the SEC. For now, it is safe to state that 1.40 dollars is a safe price zone for the crypto.
What about its future?
However, the future seems uncertain for XRP as per ripple price prediction. If the odds favor Ripple, it can showcase another 25% growth, reaching the value of 1.74 dollars. On the other hand, not getting enough investors might bring its value down to 1.24 dollars. Furthermore, the issue can get even worse if Ripple breaks the 1.20 dollar support barrier. If that happens, the crypto’s market value is bound to go as low as 1.09 dollars.
Ripple vs. the SEC: What is happening?
Brad Garlinghouse (the CEO of Ripple) and Chris Larsen (the Chairman of Ripple) recently filed motions to dismiss the lawsuit by the SEC. The motions can be the result of two minor victories XRP witnessed against the complaint. If the appeal is granted, the lawsuit will be done and dusted on the spot. However, the chances of that happening are relatively low.
2021 has been a rollercoaster for Ripple with the SEC case and its value facing polar fluctuations. The news has covered the information regarding XRP’s price surge and its future. It also accommodates the recent updates regarding the SEC lawsuit.