XRP Reach $2? Analysts Point to SEC Issues Before Appeal
Positive crypto market mood and Bitcoin's $66,000 gain have kept Ripple (XRP) at around $0.6100. XRP may surge to $31 in the long run, according to analysts.
Despite SEC issues, increased institutional interest and anticipation of favorable legislation might boost XRP's position.
A record 888% surge is predicted despite immediate obstacles!
Market researcher EGRAG expects XRP will rise 888% if it regains its highs. He compares price activity to 2017, when XRP struck a crucial support line four times before a strong bull run.
EGRAG hits $31, a significant Fibonacci extension level, if XRP smashes its all-time high of $3.31.
Investor confidence from EGRAG's ambitious projection may enhance demand and XRP's market performance.
Ripple versus. SEC: Legal Battle Heats Up as XRP Price Awaits Clarity
A former SEC lawyer thinks the government may appeal Judge Analisa Torres' July 2023 judgment that XRP is not a security, reviving the Ripple vs. SEC litigation.
Despite regulatory uncertainties, Ripple wants to launch RLUSD and develop the XRP Ledger.
An appeal might damage the SEC's credibility, particularly if new restrictions benefit the crypto industry, experts say.
The price of XRP is holding at $0.5840 despite concerns over Ripple's legal case.
Positive regulatory developments or an appeal dismissal might boost XRP over crucial barrier levels and restore market confidence.
September 28 Daily Technical Outlook: XRP/USD
After breaking the symmetrical triangle pattern, XRP/USD is trading at $0.6070, rising steadily.
This rise around $0.5965 took XRP to $0.6119 before stabilizing slightly lower.
The symmetrical triangle breakthrough implies bullish momentum, with $0.6178 as immediate resistance.
A break over this level might allow XRP to seek $0.6228 and $0.6278, significant resistance.
Support levels for the downside are $0.6032, $0.5965, and $0.5845.
