Is It Time For XRP To Soar Higher? - Kakiforex.com - Financial Market Media No. 1 in the World Is It Time For XRP To Soar Higher? Is It Time For XRP To Soar Higher?

May 31, 2021

Is It Time For XRP To Soar Higher?

 The win after win recorded by Ripple in the lawsuit hearing by the Securities and Exchange Commission (SEC) continues to provide a point of joy to XRP hardcore investors who are waiting for the XRP price to soar to an all -time high (ATH) around $ 3.0.


Recent developments report that the court has denied the SEC’s application for access to evidence that includes any advice or trial on XRP status. This makes it the 4th win that has been in Ripple’s favor.


Is the current XRP price movement ready to glide higher again as it did at the opening of April trading?


But looking at the XRP/USDT chart, it seems that the XRP price movement is still ‘struggling’ to continue to break the $ 1.0 price level before making a further decline above the $ 0.80 price level.


The next expectation is that if the XRP price manages to return with the upward momentum, the SBR (support become resistance) zone around the $ 1.0 price will be the target for investors to be tested again and in turn will provide a benchmark to make a more drastic rise.


The next SBR zone at the $ 1.40 price level will be the focus level to test if the XRP price continues to maintain the bullish trend before heading to the $ 1.60-1.90 resistance level.



On the other hand, if the XRP resumes its downward trend, the support level around $ 0.60 will be retested and will be the level that investors will evaluate as a target to re -support the upside.


If the final word on the trial between XRP and the SEC continues to favor and give victory to Ripple which is expected to end in August. Ripple is expected to be determined to become a publicly traded company and offer cheaper and faster transactions.


If that is achieved, it is not impossible for XRP to reach a market value (marketcap) in excess of $ 150 billion and reach the all -time high (ATH) level it once reached in 2018 around $ 3.0 or may be able to record its latest ATH in 2021.


As of 3.00 pm local time, the XRP price has jumped over 10% and it looks like the price is showing a bullish pattern to retest the $ 1.0 price level.