By XRP Price Prediction as Bulls Hold $0.46 Level – What is the Next XRP Target?
The XRP price has dipped to $0.468321 this morning, representing a 3% drop in the past week and a 5% loss in the last 30 days.
However, the altcoin has held to the $0.46 support level, while it also remains up by 37% since the beginning of the year, largely on the basis of positive expectations surrounding the Ripple-SEC case.
This case is expected to end in the coming weeks, and if it provides Ripple with a happy ending, there’s no doubt that XRP would rally massively.
And in the longer term, with Ripple’s business still expanding even under the shadow of the aforementioned case, XRP could end up becoming one of the biggest success stories of 2024.
XRP Price Prediction as Bulls Hold $0.46 Level – What is the Next XRP Target?
XRP’s chart and indicators are in a position where the altcoin can be expected to make some serious gains in the not-too distant future.
Its relative strength index (purple) is getting close to 50 after dipping almost to 30 last week, indicating some recovery of momentum.
In parallel, XRP’s 30-day moving average (yellow) has reached what looks like a bottom in relation to its 200-day average (blue), implying that the coin is oversold and will have to correct upwards sooner or later.
As we noted above, its ability to correct positively will depend almost entirely on the outcome of Ripple’s case against the SEC, which is still awaiting its conclusion.
Pretty much all the major pieces of evidence and testimony in the case had been presented and briefed as early as January, something which arguably indicates that a decision is long overdue.
And for many, when such a decision comes – be it a summary judgment from the judge or settlement between the two parties – it’s likely to be favorable to Ripple, in that it will enable the company to continue its business as normal, while also enabling exchanges to list XRP.
Recent developments have strengthened this conviction, with June witnessing the release of the long-awaited Hinman emails, which revealed that the SEC itself was confused on how exactly securities law applied to cryptocurrencies.
Such a revelation has strengthened Ripple’s fair notice defense, in that the SEC’s lack of certainty on crypto deprived cryptocurrency firms – such as Ripple – of sufficient warning of probable lawsuits.
This combines with other earlier developments (e.g. the court striking an SEC expert witness) to support the view that Ripple has a real chance of getting the kind of decision it’s seeking.
And if it does, XRP will shoot straight past $0.50 and reach $1, potentially within a few weeks of the case’s conclusion.
In the longer term, the sustained growth of Ripple’s business should mean that XRP ends up enjoying consistent gains, potentially rising to $2 or $3 in the first half of next year.
Diversify with Other High-Potential Alts
As positive as things seem for XRP, there’s no guarantee of a favorable conclusion to Ripple’s case, while holders may also have to simply wait several more months for any kind of decision to arrive.
For this reason, certain traders may prefer to look into other high-potential altcoins if they’re after market-beating gains in the shorter term, with presales one promising way of securing such gains.
One of the most successful presales happening right now belongs to Wall Street Memes (WSM), an ERC-20 token that has already raised more than $13.7 million since beginning its presale last month.
WSM is part of the online meme stocks movement, which in 2021 was responsible for starting the GameStop and AMC rallies that confounded short sellers.
That it has a real presence in this community is indicated by the speed with which it has raised more than $13 million, while it’s also given away by the fact that it now has over 250,000 followers on Twitter.
Such a following will be vital if WSM is to not only witness strong rallies when it lists on exchanges in the next few weeks, but also see sustained growth and recurring rallies over the longer term.
The meme token has a maximum total supply of two million, with 50% being allocated to its presale and 30% going towards community rewards, another factor that will encourage greater participation from its community (in comparison to many other meme tokens).
New buyers can join its sale by visiting the official Wall Street Memes website and linking their crypto wallets, with 1 WSM currently selling for $0.033.
The sale will close with WSM at a price of $0.0337, although the meme token is likely to rise much higher when it reaches exchanges.
Visit Wall Street Memes Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
