The crypto recovery is seen across most cryptocurrencies in the market. Today, XRP prices jumped by more than 10%, reaching the psychological price of 40 cents. Not only was it a matter of time, but fundamental backing helped in pushing prices higher. Where will XRP price reach? And what happened with the Ripple SEC lawsuit? All you need to know in this XRP price prediction article 😉
What happened with the Ripple SEC lawsuit?
Apparently, the case against Ripple might soon be revealed. The timeline should be around Q4 2022, as the last date to file oppositions for the motions for summary is around October 18, 2022. The replies to the opposition must be filed by November 15, 2022 latest. This means that soon after, we should be able to see who has the clearer advantage in winning the case.
Some analysts predict that a Ripple win would definitely be in favor of the XRP token, which should explode once the news surfaces. This will definitely bring trust back into Ripple. However, if the case was lost, XRP would be deemed a security in the US. Not only will Ripple have to pay a hefty penalty, but investors will lose their confidence in XRP as it will become just like a stock or a bond.
Ripple Price jumped 10% – What Happened?
In a previous article, we spoke about the big opportunity to buy XRP below 40 cents. We showed how the entire cryptocurrency market was moving upwards, while XRP prices were lagging behind. This is natural for XRP, as its prices tend to always lagin comparison with the crypto market.
Today, XRP prices soared high to reach the 40 cents price mark. With more than 10% returns from our previous entry, we at CryptoTicker are always happy to see good trade setups. With the crypto market at full swing, we expect prices to continue higher in tandem with overall prices.
XRP Price Prediction – is XRP price up for the rest of 2022?
There is a lot that might happen with the SEC case by the end of 2022. For now, we can look at the current technical facts. XRP just broke its resistance of $0.38 and reached the psychological price of $0.40. Although a retracement might still occur, we expect that XRP prices will continue on a new uptrend to reach the next target of $0.60. This is because the overall crypto market is also going up and positivity is everywhere across the market.
Bitcoin is above $24,000, Ethereum breached $1,700 and Cardano is prepping for higher highs from its current price of $0.50. If everything continues smoothly, we should see XRP around $0.60 at the beginning of Q4 2022.
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