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Despite its recent underperformance, XRP is poised for a resurgence in the current cryptocurrency bull market. The price growth of $XRP has been significantly impacted by the ongoing legal dispute with the SEC.
Since October, XRP has experienced a modest 50% increase, from $0.487 to its recent annual peak of $0.74. Despite this, many analysts remain bullish on XRP and anticipate a bullish phase that could outpace other cryptocurrencies.
XRP’s Market Struggle Amid Legal Battle With SEC
The market performance of $XRP has lagged behind that of other leading altcoins, largely due to the ongoing legal dispute between Ripple and the SEC. Despite a judge’s ruling in 2023 that XRP was not a security, the SEC continues to pursue its cases against Ripple.
Both sides now have until April 22 to file legal remedies, but prospects for a settlement have deteriorated as preparations for a protracted legal battle intensify. Ripple CEO Brad Garlinghouse has confirmed the company’s willingness to move forward.
Although Ripple has racked up three consecutive courtroom victories, anticipation looms within the XRP and broader crypto communities for the case’s resolution, which could reshape the industry with substantial regulatory changes. Speculation about an XRP ETF gaining traction points to a potential trillions in capital inflows.
$XRP Price Prediction
Currently, the $XRP price is $0.671, with a 24-hour trading volume of $5.61 billion and a market cap of $36.74 billion. Over the past 24 hours, the XRP price has fallen -2.09%. The value of the Relative Strength Index (RSI) stands at 67.01, indicating a neutral position for the XRP market.
Recent price movements indicate a resilient pattern around the $0.65 support level, which could potentially serve as a springboard for future price increases. With this support, a rebound from these levels could push XRP towards the $0.72 resistance.
Breaking a significant resistance level could pave the way for new all-time highs (ATH) above $1, further strengthening bullish sentiment.
To delve into in-depth XRP price prediction analysis, watch the video above and subscribe to his Youtube Channel for additional crypto price prediction content. Jacob Crypto Bury also runs a 21,000-member Discord community, offering users trading tips and insights into upcoming crypto presales.
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