BitBoy Crypto Predicts Massive XRP Price Surge With Ripple Vs SEC Settlement
The post BitBoy Crypto Predicts Massive XRP Price Surge with Ripple vs SEC Settlement appeared first on Coinpedia Fintech News
BitBoy Crypto, a notable figure within the cryptocurrency sphere, has offered insights into the potential ramifications of a settlement between Ripple vs SEC regarding the ongoing legal dispute. He suggests that such a resolution could trigger a substantial surge in the value of XRP, Rippleâs native cryptocurrency. At the same time, a settlement might confirm that XRP is not a security, clearing up a big regulatory issue that has held it back.
XRP Price to Explode if this happensÂ
In an interview with Fox News, BitBoy Crypto, also known as Ben Armstrong, shared his perspective on the matter, drawing attention to his sourcesâ indications of an impending settlement between Ripple and the SEC. He thinks this event could trigger an upside movement in XRP price, especially at the start of the bigger bull market. Armstrongâs claims have been met with interest and anticipation within the crypto community, especially among XRP investors who have been closely following the Ripple vs SEC case.
Latest update on Ripple vs SEC
The SEC v. Ripple lawsuit is nearing its conclusion, with both parties submitting final legal briefs. Todayâs deadline marks an important step as the court will rule on sealing motions. If the court decides to keep Rippleâs information private, it could boost XRPâs price and make investors feel more positive. However, investors might be worried if the SEC gets its way and more details come out. After todayâs hearings, the judge will decide which information will stay private. Then, within 14 days, the parties will make redacted versions of the documents public.
XRP to See Major Change, IfÂ
Even though a court previously said that XRP was not a security, the ongoing lawsuit has continued to impact the cryptocurrency. Price action has been slow because investors arenât sure how XRP will be regulated, negatively affecting their trust in XRP. XRPâs value has hit resistance around $0.530 and support near $0.4965. It is currently moving around $0.515.
Moreover, BitBoyâs reference to a âparabolic runâ in XRPâs price during the first half of the bull market underscores the potential magnitude of the anticipated price movement. A parabolic run typically shows there will be a massive price surge in a short duration, suggesting a significant uptrend for XRP if his prediction comes true.
XRP Price to hit $18?
In addition to BitBoy Cryptoâs insights, another crypto analyst, Dark Defender, has offered his projections for XRPâs price trajectory. Utilizing the Elliot Wave theory, the analyst suggests that XRP could hit $18 during the bull run. However, he also acknowledges the possibility of short-term fluctuations, with XRP potentially experiencing a drop to $0.39 before initiating a bullish recovery.
Even with Ripple vs. SEC ups and downs, XRP is rising. Is it the right time to grab XRP before it rises? Tell us your views.
đ°đ°đ°XRP About to Soar? Price Action May Signal Surge
Positive signals for XRP over $0.5100 resistance. Bullish momentum may result from clearing $0.520 and $0.5220 resistance levels.
XRP hopes to rise beyond $0.520.
The price is above $0.510 and the 100-hour SMA.
If XRP/USD closes above $0.520, another short-term descending channel with resistance at $0.520 forms on the hourly chart.
XRP Expects More Gains
After a sustained rise, XRP encountered resistance at $0.520. Bitcoin and Ethereum have suffered small losses. The price fell below $0.5180.
The ascending wave from the $0.4980 swing low to the $0.5225 high fell below the 23.6% Fib retracement line. However, bulls remain active at $0.5140. The price remains above $0.510 and the 100-hourly SMA.
Resistance around $0.5195 is immediate. Near $0.520 is the initial resistance. The hourly XRP/USD chart shows a short-term descending channel with resistance at $0.520.
Moving over the $0.520 barrier zone might boost prices. Around $0.5220 is the next resistance. If bulls break $0.5220 barrier, the price may climb toward $0.5350. More advances might push price toward $0.550 barrier.
More Losses? XRP may fall if it fails to break $0.520. Initial downside support is $0.5150. The next significant support is $0.5120.
The 50% Fib retracement level of the ascending wave from the $0.4980 swing low to the $0.5225 high is approaching $0.510, the key support. If price breaks down and closes below $0.510, it may accelerate downward. In this situation, the price may decrease to $0.4980 soon.
Tech Indicators
Hourly MACD - XRP/USD MACD is rising in the positive zone.
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đ±đŠđŠXRP Whales Move 333M Coins Amid Price Flux, Is A Bull Run Possible?
#XRP , a cryptocurrency backed by Ripple Labs, attracted a lot of interest among crypto market participants today, on May 20, when whales stirred up a significant amount of crypto between exchanges. The whale transaction, which occurred in the midst of the extremely turbulent price movement witnessed by $XRP , ignited excitement among crypto market participants who are watching the token for potential gains.Dec.
The transactions added to particularly mixed market sentiment, as they pointed to the future price movement of the token, accumulation and decline. Also, in the middle of this history, a famous crypto market analyst predicted an upcoming bull run for the Ripple-backed token.
Whale Transactions Ignite Market Frenzy According to the in-chain data disclosed by Whale Alert, a staggering 333 million XRP has been transferred through several transactions in the last 24 hours.
Among these transactions, 33 million XRP, worth $ 16.76 million, was moved to Bitstamp by the famous XRP whale ...Rzn.Dec. In particular, this whale's dumping of XRP on Bitstamp and Bitso appeared as a recurring phenomenon in the crypto world after Ripple bought shares on the exchange in question. numerous reports prepared draw attention to the fact that the aforementioned whale has been making repeated deposits to Bitstamp for some time.
On the other hand, another unknown address, R99QSEJ, has accumulated 250 million XRP worth $ 129 million from the Japanese exchange Coincheck. The unknown address rP4X2hTa7A received 50 million XRP worth $ 25.69 million from Ripple.
October May 20 (Upi)-- Collectively, the massive increase in whale activity today has given rise to additional speculation as the parties in the Ripple and U.S. SEC case are set to submit letter briefings against multi-purpose letter motions today.
Meanwhile, the fact that XRP is trading in the red has increased the mystery regarding the upcoming price movements. #ripple #binance
Based On XRP Hestia Lines, Analyst with Multiple Targets Sets 6,600% Rally as Ultimate Target
Despite its poor performance, XRP has been a center of investor interest. However, a recent analysis by prominent market analyst EGRAG CRYPTO (@egragcrypto) suggests that XRPâs trajectory will turn around soon. The analyst offers details of XRPâs potential price trajectory, building upon his previous analysis. EGRAG CRYPTOâs previous analysis hinges on three key trend lines: Phobos, Hestia, and Hermes. Each line represents distinct market conditions that can significantly impact XRPâs price. Phobos Line: This line acts as a psychological barrier. A dip below this trendline can cause a bearish turn as fear and uncertainty build among investors and panic selling begins. Hestia Line: This line signifies stability in the market. Historically, XRP has experienced significant price increases after finding support at the Hestia Line. EGRAG CRYPTOâs data indicates that touching this line has previously resulted in price surges ranging from 80% to 6600%. Hermes Line: Named after the Greek god of trade and travel, this line symbolizes bullish momentum. EGRAG CRYPTO described this line as a vital force, and it often causes huge rallies, elevating XRP to new heights. Price Targets EGRAG CRYPTOâs latest update outlines several price targets for XRP, drawing upon historical data and XRPâs past behavior. Another analyst recently predicted a climb to $3 based on a rare technical indicator, but EGRAG CRYPTO has much higher targets. His projections encompass a range of potential price points, culminating in an ambitious target of $33.5. This target is anchored in XRPâs historical price movements when it touches the Hestia Line. As EGRAG CRYPTO highlights, historical data reveals significant price increases upon reaching this line. These increases have varied considerably, the most remarkable instance being a 6600% surge. Based on a hypothetical starting price of $0.50, a similar increase would propel XRP to a new all-time high of $33.5. EGRAG CRYPTO also presents alternative projections, including a 1444% rise to $7.72 and more modest but significant increases to $1.00, $0.90, and $1.36, representing 100%, 80%, and 171% increases. Notably, the historical average of these previous price increases translates to a 2969% surge, which would see XRP reach $15.35. XRP is trading at $0.5221, down 0.32% over the past 24 hours. Despite the minor decline, all signs point to a massive surge soon. Whales are also entering the XRP ecosystem, suggesting confidence in the digital assetâs future. â ïžDisclaimer This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #XRP #Ripple
SHIB Burns On Fire Despite Shiba Inu Price Going Down.
Daily Shiba Inu burn rate has demonstrated a substantial increase with several millions of meme coins transferred out of the circulating supply.
SHIB burns increase overnight.
Data published by the Shibburn explorer reveals that within the last 24 hours, the SHIB burn rate has staged a major rise of 62.58%.
This way, the Shiba Inu community has successfully disposed of 6,985,600 SHIB meme coins in total thanks to ten burn transactions. The largest burn transfers registered by this tracker included 2,555,239, 1,500,000 and 1,045,369 SHIB.
In the meantime, over the past seven days, the SHIB community has managed to get rid of 57,671,544 SHIB. However, this is almost 57% less than was sent to unspendable blockchain wallets a week before - the weekly SHIB burn rate is in the red.
Overall, a staggering amount of 410,726,422,225,031 SHIB has been so far burned in total from the quadrillion supply created by Ryoshi when SHIB was launched in 2020. The supply of Shiba Inu that is currently circulating on the market equals 582,992,864,057,113 SHIB meme coins. 6,280,713,717,854 SHIB have been locked in staking platforms.
Shiba Inu price performance.
Over the period of the past 24 hours, the second largest meme cryptocurrency SHIB has staged a major decline of slightly over 4%, coming out of the range it had been moving for three days prior to that.
Shiba Inu price has dropped from the $0.00002504 level to $0.00002397, where it is changing hands at the time of writing this article.
Shibarium transaction activity keeps plummeting.
The Shibariumscan explorer shows a continuous decline in on-chain activity on this layer-2 solution.
The daily transaction count has dropped to the 11,910 mark compared to 16,900 on Saturday. This is a more than 97% plunge compared to the 562,990 transactions spotted on Shibarium on April 17.
As for the total count of transfers on this progressive blockchain platform, it has by now shown a rise to 417,490,509 with the number of connected wallets sitting at 1,803,114.
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