XRP News: Optimism Fuels $5 Price Prediction Despite Ongoing SEC Lawsuit
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Ripple News: XRP Sales to Institutions Pending Amid $5 Price Prediction
Ripple’s recent expansion efforts, including its collaboration with Chipper Cash to enhance cross-border payments in Africa, are fueling optimism among experts who project the XRP price could hit $5 in the near future. However, Ripple’s XRP sales to institutional buyers remain uncertain due to the ongoing SEC lawsuit, which has stretched over several years. The SEC must petition Judge Analisa Torres to lift the injunction blocking Ripple from selling XRP to institutional investors.
XRP Hits $2 Support, Eyes Potential Rebound
XRP dropped to $2 support and rebounded slightly to $2.12, down 2.91% in 24 hours amidst a market downturn fueled by a $1.25 trillion loss in U.S. stocks. The token is forming a symmetrical triangle with potential breakout targets at $2.60, $2.84, and $3.00. Failure to hold support could lead to further declines. Over the past week, XRP has declined by almost 12%, showing a bearish trajectory with a 24-hour trading volume of $8.20B and a market cap of $123.83B.
XRP Price Breakout Alert: Short, Mid and Long Term Scenarios Revealed
XRP’s chart shows it’s holding up better than many other altcoins and is currently trading at $2.16, up by more than 1%. Caleb Franzen, founder of Cubic analytics, provided a detailed analysis of XRP’s potential movement in the short, mid, and long term on the Thinking Crypto podcast. XRP is currently holding strong above its 200-day moving average cloud, which sits between $1.76 and $1.80, indicating resilience in a shaky crypto market.
XRP Price Today: XRP on ‘Make It or Break It’ Move, $3 Next?
Prominent crypto analysts are divided on whether XRP will soar past $3 or collapse below key support levels. The battle between bulls and bears is heating up, and XRP’s next move could define its trajectory for the coming months. Renowned analyst Ali Martinez has pointed out the formation of a head-and-shoulders (H&S) pattern on XRP’s daily chart, which is a classic bearish reversal pattern.
