XRP News: Ripple’s XRP Predicted to Skyrocket with Potential Upcoming Events

Cryptocurrency enthusiasts and investors are buzzing with excitement as Ripple’s XRP token appears to be on the verge of a significant breakthrough. Recent developments in the ongoing lawsuit between Ripple and the US Securities and Exchange Commission (SEC) have sparked renewed interest in the digital asset, with analysts predicting a potential surge in its price.

Ripple to Break Records? This One Trigger Could Send XRP Skyrocketing.

XRP is gaining renewed attention with some analysts predicting a rise to as high as $5.85. The SEC’s dropped appeal might be priced in, but upcoming potential events like a spot ETF approval or IPO filing could reignite bullish sentiment. Ripple’s XRP jumped last week due to the major development in the lawsuit between the company and the US Securities and Exchange Commission (SEC). The agency dropped its appeal against the firm, pushing the token’s price to as high as $2.60. Since then, XRP has lost some steam and currently trades at around $2.45. According to many market observers, investors should be patient since another major rally might be just around the corner.

XRP Price May Face April Flash Crash, Analyst Predicts Short-Lived Downturn

The XRP price has been consolidating after a previous rally, but a crypto analyst warns of a potential flash crash in April. MetaShackle, a TradingView analyst, used Elliott Wave-based analysis and technical levels to predict a false breakout followed by a sudden flash crash. However, the analyst anticipates a rebound shortly after.

XRP Price Stalls as On-Chain Metrics Flash Warning

XRP (XRP) has increased by 2.2% in the past 24 hours to trade at $2.46 per token. However, on-chain metrics indicate that Ripple’s network growth has not kept pace with the recent price surge. The Network Value to Transactions (NVT) ratio has spiked to its highest level since January 2020, suggesting that XRP may struggle to reach higher price levels if growth continues to stall.

XRP Price Prediction for March 24

XRP’s current trading price of $2.47 comes off a modest 3.25% gain over the past 24 hours, showing short-term buying interest. However, over the last 30 days, XRP has experienced a 4.51% decline, indicating market uncertainty and consolidation. The 50-period moving average on the 4-hour chart has been trending upward.