As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous bull and bear cycles, market rallies, and corrections. The current situation surrounding XRP and Bitcoin presents an intriguing opportunity for investors who are willing to take calculated risks.
As the legal battle between Ripple Labs and the US SEC nears its end, traders are eagerly looking forward to a significant surge in XRP prices. For over two years, the XRP market has been moving laterally due to the bear market, the ongoing lawsuit, and the crises involving Terra and FTX. If Bitcoin manages to build momentum towards $100K-$150K following its anticipated breakout, it’s possible that XRP could reach at least $2 in price.
XRP Price Rally Holds Promise as Ripple Lawsuit Is Over
In simple terms, the Securities and Exchange Commission (SEC) has a fortnight to challenge Judge Torres’ decision regarding remedies. The federal agency suggested it might not contest the summary judgment on XRP programmatic sales. Furthermore, they expressed regret for using the term “crypto asset securities” in crypto-related cases and have decided to stop employing that phrase.
As the SEC mulls over its decision to challenge the remedies ruling, Ripple’s CEO Brad Garlinghouse and CLO Stuart Alderoty have signaled that the XRP lawsuit has reached its conclusion. They are not planning to initiate an appeal first, but a cross-appeal seems probable instead.
In addition, if the agency fails against Ripple in the Second Circuit Court, this decision would establish a significant legal precedent that could influence other courts. This makes it less likely for the SEC to challenge the Ripple case unless they have fresh insights or evidence. Consequently, this could potentially increase the value of XRP.
Bitcoin Price Rally to $100K-$150K
Financial titans, analysts, and money specialists anticipate that the cost of Bitcoin will increase significantly, potentially reaching between $100,000 and $150,000 during this cycle. Consequently, the latest surge in the bull market can be traced back to the 0.5% decrease in interest rates by the U.S. Federal Reserve.
As a researcher delving into the dynamic world of cryptocurrencies, I’ve noticed an impressive surge in the price of Bitcoin this week, reaching a current trading value of approximately $62,814. Over the past 24 hours, the price range has fluctuated between $62,630 (the 24-hour low) and $64,119 (the 24-hour high). Interestingly, the trading volume has taken a dip by around 21% in the same period, suggesting a potential decrease in trader enthusiasm. Notably, recent Bitcoin recovery was speculated to be a ‘bull trap’ as per CoinGape Media’s predictions.
Instead of Bitcoin price chart exhibiting a cup-and-handle formation, suggesting an imminent surge, it’s crucial for Bitcoin to surpass the $67K mark and then stabilize before reaching potential heights of $100K.
Why XRP Price Will Rally With Bitcoin?
According to well-known cryptocurrency expert CredibleCrypto, there’s a possibility that the value of XRP could increase by 25% to reach approximately $0.75 in October. But before this potential rise occurs, it’s important for the price to dip below a specific range floor first. Once this happens, the price might rebound within the same range and move upward.
The crypto market traditionally experiences a bullish fourth quarter, which could potentially drive the value of cryptocurrencies up to $1. This uptrend may be further bolstered by the absence of elections and the resolution of the Ripple vs SEC lawsuit, leading to increased optimism among traders. The forecast for XRP‘s price target at $2 in 2025 is rooted in market demand and supply fluctuations during a bull run.
As a researcher delving into the realm of cryptocurrencies, I’ve found an intriguing revelation: Crypto analyst Ali Martinez has disclosed that whales have amassed approximately 380 million XRP over the past ten days, equating to a value of around $228 million. Interestingly, this buying spree began weeks before the anticipated Fed rate cuts, possibly driven by optimistic sentiments emanating from Wall Street.
According to the analysis, the forecasts align well with the technical signals, trends, and key levels on a daily scale. It’s advisable to monitor these trends and plot them on larger timeframes to identify promising entry and exit opportunities that could multiply your investments significantly.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- BICO PREDICTION. BICO cryptocurrency
- USD CLP PREDICTION
- USD ZAR PREDICTION
- USD COP PREDICTION
- USD PHP PREDICTION
- VANRY PREDICTION. VANRY cryptocurrency
- SBR PREDICTION. SBR cryptocurrency
2024-09-20 18:06