XRP price prediction after lawsuit is looking bullish due to the recent developments in the Ripple vs SEC lawsuit. However, the Ripple price action can reverse if the judges decide in favor of the SEC. By advanced technical analysis, we can determine the optimum entry and exit levels to avoid any sudden pump or dump.
On Tuesday, cryptocurrency markets turned green once again as the BTC price broke above $26,000. Ripple price was trading at $0.528. The price is currently 10.8% down from its yearly high of $0.58, which was achieved in March 2023.
The Ripple vs SEC lawsuit has been one of the hottest topics in the crypto industry. For the past three years, the top cryptocurrency has been battling the top US Securities and Exchange Commission. This week started with a major win for Ripple as the judge denied the SEC’s motion to seal Hinman’s speech.
XRP price prediction after lawsuit depends on the outcome of the case. The recent developments suggest that cryptocurrency has the upper hand. In other news, Ripple has partnered with the Univerity of Toronto. After this new partnership, the largest Canadian University has started an XRP validator node.
A first look at the XRP price chart suggests that the price has been in a significant downtrend since hitting its yearly highs in March 2023. However, the latest development in the court has resulted in a strong rally. The price appears to be heading for a retest of $0.58 level, which is the yearly high.
XRP price prediction is also looking very bullish because the price is strongly supported by the 200 MA on the daily chart. However, bulls need to break above the $0.58 resistance to target more upside. After a reclaim of this level, $0.71 will be a valid price target in the short term.
In the meantime, you are also welcome to follow me on Twitter to keep track of my personal trades and the latest developments in Ripple vs SEC case.
This post was last modified on Jun 13, 2023, 08:43 BST 08:43