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Despite recent underperformance, XRP is poised for a resurgence in the current cryptocurrency bull market. The price rise of $XRP has been greatly influenced by the ongoing legal dispute with the SEC.
Since October, XRP has risen about 50% from $0.487 to its recent yearly high of $0.74. Nonetheless, many analysts remain bullish on XRP and predict a bullish phase that could see it outperform other cryptocurrencies.
XRP’s market is struggling amid a legal battle with the SEC.
$XRP’s market performance has lagged that of other major altcoins, primarily due to the ongoing legal dispute between Ripple and the SEC. Despite a judge ruling in 2023 that XRP is not a security, the SEC continues to pursue its case against Ripple.
Both parties now have until April 22 to submit documents related to relief, but prospects for an agreement have dimmed as preparations for a lengthy legal battle intensify. Ripple CEO Brad Garlinghouse confirmed that the company is ready to endure.
Despite Ripple’s third consecutive legal victory, expectations are growing within XRP and the broader cryptocurrency community for a resolution of the case, which could reshape the industry with significant regulatory changes. Speculation that the XRP ETF is gaining traction suggests potentially trillions of dollars in capital inflows.
$XRP Price Prediction
The current $XRP price is $0.671, with a 24-hour trading volume of $5.61 billion and a market capitalization of $36.74 billion. In the last 24 hours, the price of XRP fell -2.09%. The RSI (Relative Strength Index) value is 67.01, indicating a neutral position in the XRP market.
Recent price action suggests a resilient pattern centered around the $0.65 support level, potentially serving as a springboard for future price increases. Once this support is in place, a bounce from these levels could push XRP towards $0.72 resistance.
A break above a significant resistance level could pave the way for a new all-time high (ATH) above $1, further strengthening the bullish sentiment.
Watch the video above for an in-depth XRP price prediction analysis and subscribe to his YouTube channel for additional cryptocurrency price prediction content. Jacob Crypto Bury also maintains a Discord community of 21,000 members, providing users with trading tips and insights on upcoming cryptocurrency presales.
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