XRP News: Price Action Teeters on Key Support, Future Trend Uncertain

XRP Price Update: Teeters on $2.35 Support, Next Move Critical

XRP hovered within a tight range on the 1-hour chart, facing support around $2.356 and resistance NEAR $2.435. The price action suggested a descending triangle pattern, marked by lower highs and steady lows, indicating a potentially bearish trend. However, low volume hinted at a lack of decisive momentum. A clear break below $2.356 could signal a short-term downside, while failure to breach this level might prompt a quick bullish reversal targeting $2.43 or higher. Scalpers are watching for a breakout or breakdown to capitalize on price swings. The 4-hour chart showed a mid-term corrective phase, with XRP retracing from a recent high of $2.59, and support at $2.22 proved resilient during previous sell-offs.

Ripple Lawsuit News: SEC Drops Case, But Worst Case Scenario Remains

Ripple’s recent legal victory over the SEC has caused a buzz in the crypto world. The SEC dropped its lawsuit against Ripple after a long battle, potentially shifting how regulators handle digital assets in the U.S. A legal expert explained that while the SEC has dropped its appeal, it’s unclear if Ripple has agreed to the same. The worst case scenario for Ripple includes a $125 million penalty and an injunction.

Bitcoin Analyst Sees XRP Hitting $20 Despite Skepticism

Davinci Jeremie, a Bitcoin analyst known for his skepticism toward XRP, has acknowledged the possibility of a significant price surge for the token. Despite believing XRP is a bad idea as a cryptocurrency, Jeremie stated that technical analysis suggests the cryptocurrency could break $3 soon and possibly reach $20 long-term. Another analyst, Dark Defender, predicts XRP could hit $77.7 based on Elliott Wave theory and Fibonacci levels. Additionally, some analysts speculate that a potential XRP-SWIFT partnership could push the price to $1,000 due to institutional demand.

Ripple Co-Founder Jed McCaleb Invests $1 Billion in Private Space Station

Ripple co-founder Jed McCaleb is investing $1 billion into his aerospace company, Vast Space, to build a private space station named Haven-1. The space station is set to launch in May 2026 aboard SpaceX’s Falcon9 rocket. Vast aims to compete with SpaceX, Blue Origin, and Axiom Space in the future of human space exploration. McCaleb, a prominent player in the cryptocurrency arena, has now turned his focus towards the aerospace industry with this ambitious plan.