Analysts Predict Bullish Future for XRP Despite Ongoing Legal Battle with SEC

05/03/2024 16:26

According to CryptoPotato, analysts are predicting a bullish future for Ripple's XRP based on technical analyses and its overcoming of resistance levels. Despite a 20% surge in a week, XRP still lags behind the recent gains recorded by Bitcoin and many altcoins, particularly meme coins. However, top analysts remain optimistic about a potential bull run for the cryptocurrency. Dark Defender, an XRP analyst, claimed that the token has been strolling strictly around the Fibonacci level of approximately $0.64, with important indicators like MACD (Moving Average Convergence Divergence) and Ichimoku suggesting a further uptick. The analyst predicts that XRP's valuation might surpass the $1 mark by the beginning of April. Alex Cobb also argued that XRP could explode to an all-time high in the upcoming months if it surpasses the key resistance level of around $0.63. The asset recently exceeded that zone and is currently hovering at $0.65. EGRAG CRYPTO provided a long-term forecast, stating that XRP is poised for a substantial upswing in the next six years, possibly surging above $10 by 2030. A significant factor that could trigger a bull run for XRP is the outcome of the lawsuit between Ripple and the United States Securities and Exchange Commission (SEC). Ripple currently has the upper hand, securing three vital partial court victories last year, with its token positively reacting after each one. The trial between the entities is scheduled for April 23, 2024, but potential delays from both sides could delay the outcome until 2026.

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Analysts Predict Bullish Future for XRP Despite Ongoing Legal Battle with SEC

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