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XRP has been in the headlines more frequently than any other individual cryptocurrency recently, not because of price changes, but because of back-to-back developments in Ripple’s continuing case against the United States Securities and Exchange Commission. It’s been more than six months, and the matter shows no indications of being resolved.
When the SEC case first gained traction, the price of XRP plunged from $0.7 to $0.2. However, practically every verdict in favour of Ripple in the lawsuit since then has merely pushed the coin’s price higher up the charts.
At press time, however, the coin was trading at around $0.89, right below the $1-mark. While XRP bulls desperately attempted to break above their June high of $1.07 during the initial two days of the month, they were strongly rejected and the price slipped back to the $0.90-bracket.
Commenting on the future prospects of XRP’s price, the popular analyst with the pseudonym CryptoSerpent, in his recent YouTube video, asserted,
“We are heading into this bullish, ferocious momentum for XRP and it’s going to be legendary.”
Surprisingly, following the large price drop that happened during the spike in 2017-18, XRP’s price rose, after first trading sideways. A few more “monstrous” candles formed, and the same tendency repeated itself twice more, though at a somewhat slower rate. According to the expert, a congruent move is possible right now. He continued,
“Coming to the present, we did have a massive drop and now we’re trading sideways. We can expect 3 hard-hitting moves now.”
The first hard-hitting move would transpire when the coin jumps from the $0.9 to the $2.6-range, as indicated by the non-time bound chart above. Highlighting the next two massive moves for XRP, the analyst went on to say,
“We’ll go one more time for the major move which will see us going into the tens. $10-$11 and maybe even touch $15 for a little bit. We’re going to go sideways then one final push will get the crypto’s price to the $123 range.”
Well, the token isn’t even worth $1 right now, so expecting it to reach $123 seems a little absurd, doesn’t it? Nonetheless, the trader believes that the currency will accomplish the aforementioned accomplishment in the long term, most likely by September of next year. He continued,
“It’s definitely not going to happen overnight. A lot of things have to go right for this to occur, but it is coming. It is just a matter of when, not if.”
XRP has always been a popular altcoin, marked by high emotion and demand. The coin has also firmly established itself in the top 10 list. The price of XRP is anticipated to fall as more good developments in the litigation emerge. Furthermore, when the litigation is resolved, Ripple may go public, which would boost the price of XRP. Though the $123-range may seems unrealistic, some appreciation is unavoidable.