An analysis of the current situation and future of XRP Coin:
Although XRP Coin is among the largest altcoins in terms of market value, it has not achieved the expected rise in the last year. In particular, the fact that it can only approach the $1 threshold once shows the effects of both increasing supply and ongoing legal problems with the SEC. However, as of August, a hopeful period may begin for XRP Coin.
The closed meeting to be held between the US Securities and Exchange Commission (SEC) and Ripple on August 1 is awaited with great curiosity in the market. It is stated that the SEC has not achieved a clear victory in the long-running legal battle and is unlikely to win in the future. Especially SEC Chairman Gensler's desire to close this file before leaving office creates a positive expectation in the market.
The approximately 5% increase in the price of XRP Coin in recent days enabled it to reach the highest level of the last four months, and after exceeding the critical resistance level of $ 0.65, the target of $ 0.74 was brought to the agenda. If a consensus is reached at the meeting, these goals are expected to be tested.
Ripple CEO's "deal is close" message in his statement to Bloomberg was received positively by investors and contributed to the strengthening of XRP. Additionally, the SEC's relinquishment of securities claims on other altcoins is among the factors that have allowed XRP to strengthen in the market.
On the other hand, the increase in open positions in futures shows that investors' interest in XRP has increased. This indicates that XRP is resilient and maintains its upward trend despite the general negative atmosphere in the market.
The price movements of XRP Coin in the coming days will be shaped depending on the results of the meeting between the SEC and Ripple. Investors can continue to update their strategies by following these developments closely.
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