XRP News: Analyst Predicts Significant Price Increase in Upcoming Cycle

In a recent analysis, a prominent cryptocurrency analyst has offered insights into the future price trajectory of XRP, suggesting that the altcoin could witness a notable uptick in the coming months.

XRP Cycle Top Forecast: Analyst Predicts Price Uptick

A prominent analyst, Egrag Crypto, has given insight into the price trajectory of XRP, noting that the altcoin could experience a significant price increase in the next few months. Egrag provided an analysis based on a potential price uptrend for XRP if it follows the previous fractal, offering two possible dates when it will top the cycle. Despite its current bearish state, Egrag remains optimistic about XRP reaching the top in the ongoing cycle if it follows the historical pattern from 2021 to 2024.

Ripple v. SEC Lawsuit May End Soon - Legal Expert Comments

Lawyer Fred Rispoli suggests a possible deal between Ripple and the SEC before April 16. The exact date is uncertain, but it coincides with Ripple’s scheduled filing of their appellate brief. Recently, Anthony Scaramucci claimed the SEC has dropped the case against Ripple. Over the past few months, the SEC has seen leadership changes and has dropped or paused several lawsuits against crypto businesses, but the legal battle against Ripple continues.

XRP Price Prediction for March 12

XRP’s current trading level at $2.20 shows a recent burst of optimism, with a 3.55% surge in the last 24 hours. This short-term upward momentum is set against a backdrop of a 9.10% decline over the past 30 days. Technical analysts observe that shorter-term moving averages are beginning to show signs of support, while longer-term averages still reflect a bearish bias.

Cryptocurrency Market Overview and XRP ETF Delay

The global cryptocurrency market saw a 1.29% increase, with a total market cap of $2.68 trillion. However, the total crypto market volume dropped 25.46% to $119.6 billion. DeFi accounts for 6.19% of daily trading volume, while stablecoins contribute 93.29%. Bitcoin’s dominance increased slightly to 61.08%. Despite the SEC delaying the announcement of the XRP ETF, XRP gained 2.51%, pushing its price to $2.18. Franklin Templeton has joined Grayscale and Bitwise in applying for an XRP ETF.