XRP price is up 1% over the past 24 hours, recovering to $0.516186 after a weekend in which the altcoin price plunged more than 25% as market makers exited Binance.
XRP is now down 3.5% over the past week, but is still up 20% over the past 30 days, with the altcoin up 51% since the beginning of the year.
While the SEC actions against Binance and Coinbase have unsettled the market at the moment, XRP is in a stronger position than most other alternatives, as Ripple’s own case with the SEC is set to conclude in the next few months.
And if this case ends positively for Ripple (which many observers are hoping for), then XRP could see a massive rally in the coming weeks.
$1 Billion Trading Volume Comes as XRP Price Prediction – Can XRP Go 10x From Here?
XRP’s chart makes for a more positive reading than the charts of many other alts, even though its indicators are mixed at the moment.
Its Relative Strength Index (purple) has rebounded to 50 after spending the weekend very close to 30, which is a sign of overselling.
This suggests that XRP is recapturing some of its former momentum, although its 30-day moving average (yellow) has begun to slide lower after the weekend troubles, which could signal further losses to come. Is.
Nevertheless, XRP’s support level (green) has actually risen in the medium-term, providing some reassurance that the altcoin is unlikely to fall much lower than on Saturday.
And given XRP’s own special position and fundamentals, it is well positioned to weather SEC- and Binance-related fallout and could enjoy additional gains in the near future.
As we’ve noted on several occasions over the past few weeks, developments in the Ripple-SEC case have largely been very positive for Ripple, indicating that it may see an outcome that benefits it.
For one, emails were submitted to the court over the past few weeks that revealed the SEC had received a legal opinion that XRP was not a security, a revelation that undermines the regulator’s argument that Ripple faces potential legal action. There was enough fair warning.
Ripple has also seen several other positive developments over the past few months, including the removal of an expert witness called by the SEC from court, while also refusing the regulator’s demands for Ripple to remove its own witnesses.
Because of this, there is a real sense that Ripple has a good chance of securing the kind of judgment or settlement that would enable it to continue as a business, and that would enable exchanges to list XRP. Is.
This goes to show how much interest it’s already generated, and while it’s a meme with no real interest, it already boasts a solid fanbase and community that’s necessary to maintain its price in the long run. And it appears.
He has more than 229,000 followers on Twitter, which once again demonstrates his ability to attract the cryptocurrency community.
The pre-sale is currently in Phase 12, at $0.0283 per 1 WSM, but that price will rise to $0.03370,000 with the start of the Final Phase, 30.
Investors can participate in the pre-sale by visiting the official Wall Street Meme website and linking their cryptocurrency portfolio.