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Ripple (XRP) Price Prediction and Analysis in May 2021

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Ripple (XRP) is the fourth-largest cryptocurrency, according to its current market cap of $62,407,542,785. It has a circulating supply of 45,404,028,640 XRP and a total supply of 99,990,831,162 XRP. Over the last 24 hours, XRP trading volume was $10,795,177,603, which is down by 35.40%. In this XRP price prediction, we will look at various aspects of this cryptocurrency to help traders make an informed decision.

XRP Price Prediction: Analysis

XRP is the currency that runs the digital payment RippleNet network. It joined the market officially in 2012, with an approximate price of $0.005. The coin attained its all-time high price of $3.400 on January 7, 2018, before it dropped massively to close the year at $0.361.

XRP price prediction

Fast forward to 2021, XRP has not had a smooth ride either. The coin started the year at $0.21 at the beginning of January before it escalated to $0.65 on February 1. Then, it closed the month of February at $0.41. In March, XRP witnessed a slight growth and closed at $0.57. The first half of March was seemingly good for the XRP coin.

XRP price prediction in the coming days:

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Source: walletinvestor.com

XRP started April at $0.57, and by April 15, it was already $1.73. As of this writing, the XRP coin is seemingly under pressure after hitting its year-to-date high of $1.96 in mid-April. This XRP price prediction might not show the exact price for tomorrow, but users need to take note of the factors that could affect its performance. From April 18, the XRP price has dipped considerably, perhaps because the market was focusing on the SEC lawsuit, in which the regulator accused Ripple of harassing it.

In a recent report by Bloomberg, the SEC vowed to continue with the lawsuit under the new chairperson, Gary Gensler. According to the report, the agency asked the judge overseeing the Ripple case to dismiss the crypto company’s request for internal communication documents. This event might have taken a toll on the recent XRP price.

According to Walletinvestor, the following are the pivot, resistance, and support levels traders should keep in mind when trading XRP.

  • Resistance Level (R3): 1.509;
  • Resistance Level (R2): 1.350;
  • Resistance Level (R1): 1.260;
  • Pivot Point: 1.101;
  • Support Level (S1): 1.011;
  • Support Level (S2): 0.852;
  • Support Level (S3): 0.762.

Developments

The latest development on the Ripple network, which might affect the XRP price, is the ongoing battle between the crypto company and the Securities and Exchange Commission (SEC). The Ripple team insists that XRP is not a security. Recently, Ripple, through its attorneys, requested the dismissal of the case, arguing that no part of XRP’s sales indicated that it was bought as a security or an investment.

The pressure around this case is mounting, and this might affect the XRP price in the coming days. However, in the meantime, some crypto enthusiasts in Hong Kong have identified XRP as one of the cryptocurrencies to help them facilitate payments during the pandemic.

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As lockdown continues in different parts of the globe, more users, especially small and middle-level businesses, might be interested in XRP to help them facilitate crypto payments. If this happens, it might add value to the coin and possibly increase its price.

Other analysts also believe that XRP is set to experience a massive surge to a new ATH soon. In a new tweet by a famous crypto trader and analyst, XRP is currently approaching a downward correction to 0.68 Fibonacci retracement support, which is likely to cause a possible bounce.

XRP Price Prediction: Market Opinions

For those who wish to invest in Ripple, this XRP price prediction could shed some light. Here are some of the market opinions on what to expect for the market in May 2021 for XRP.

Longforecast

According to Longforecast‘s XRP price prediction, it will open May at $0.98 and close at $0.82, leading to a change for May of -16.3%. The coin would attain a maximum price of $1.73 and a minimum price of $0.71. The average price for the month is expected to be $1.06.

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Tradingbeasts

Tradingbeasts gives the coin a bright future in the coming month. They say that XRP will reach $1.34 by the beginning of May 2021. The expected minimum price is $1.68, while the minimum is $1.14. The XRP price prediction for the end of May is $1.34.

Previsionibitcoin

According to this website, XRP could boost its price in May. They put the coin at $1.37 at the beginning of May. Moreover, they say that XRP will be driven by more investors buying the coin, technology adoption, and international acceptance. Media spotlight could also play a role in improving the XRP price.

XRP Price Prediction: Verdict

Amid its challenges with the parent company Ripple, it’s visible that XRP is pushing upwards. This shows the resilience and value that it has to offer. With upcoming catalysts, such as the Flare Network launch and a possible win against the SEC, the coin could draw more investors into its fold. This explains the optimism expressed in the market opinions. So, you just have to consider any important factor that could influence the XRP price behavior in order to make the right decision.

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XRP Value Tripled Since The SEC Actions, Mike Novogratz Says

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Mike Novogratz posted an interesting message on his social media account about the price of XRP. Check it out below.

Someone said: “It plummeted over 60% when the case was filed wiping some people out because they panic sold or was forced to sell. That’s ok if it’s b/c the market itself was the cause but it’s not ok when caused by arbitrary SEC overreach.I agree its recovery shows it’s not only tied to Ripple.”

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One other commenter posted this: “based on XRP’s utility potential , it should be 50x by now in comparison to slow BTC and high gas fees of ETH. so it just trippled since lawsuit after 80% straight dump where as others are 6X since dec 2020 post ripple lawsuit.”

XRP bullish prediction is out

It’s been just revealed that the crypto market intelligence platform Santiment analyzes key on-chain metrics for XRP that are flashing healthy signals for the coin.

Santiment is addressing XRP’s social volume metric and says discussions involving the sixth-largest crypto-asset all over the internet have been pretty quiet.

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Check out what the firm has to say:

“XRP’s social volume saw an uptick, but nothing too crazy like what we observed back in April, where [its] price was parabolic and everyone was just crazy over XRP.”

Santiment continued and pointed out the following as well:

“This lack of interest from the crowd is healthy for now and more so when price keeps inching upwards and social volume remains low, suggesting perhaps the crowd are in disbelief.”

Someone said: “It plummeted over 60% when the case was filed wiping some people out because they panic sold or was forced to sell. That’s ok if it’s b/c the market itself was the cause but it’s not ok when caused by arbitrary SEC overreach.I agree its recovery shows it’s not only tied to Ripple.”

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One other commenter posted this: “based on XRP’s utility potential , it should be 50x by now in comparison to slow BTC and high gas fees of ETH. so it just trippled since lawsuit after 80% straight dump where as others are 6X since dec 2020 post ripple lawsuit.”

XRP bullish prediction is out

It’s been just revealed that the crypto market intelligence platform Santiment analyzes key on-chain metrics for XRP that are flashing healthy signals for the coin.

Santiment is addressing XRP’s social volume metric and says discussions involving the sixth-largest crypto-asset all over the internet have been pretty quiet.

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Check out what the firm has to say:

“XRP’s social volume saw an uptick, but nothing too crazy like what we observed back in April, where [its] price was parabolic and everyone was just crazy over XRP.”

Santiment continued and pointed out the following as well:

“This lack of interest from the crowd is healthy for now and more so when price keeps inching upwards and social volume remains low, suggesting perhaps the crowd are in disbelief.”

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XRP Forecast October 18 — 22, 2021

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XRP/USD end the trading week at 1.1394 and continue to move as part of the rise and the bullish channel. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines upward, which indicates pressure from buyers and a potential continuation of the cryptocurrency growth from the current levels. At the moment, we should expect an attempt to develop a correction and a test of the support area near 0.9255. Where can we expect a rebound again and a continuation of the rise of the cryptocurrency to the area above the level of 1.8055.

Cryptocurrency XRP Forecast October 18 — 22, 2021

An additional signal in favor of the growth of XRP quotes in the current trading week October 18 — 22, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for the Ripple cryptocurrency will be a fall in prices and a breakdown of the 0.6505 area. This will indicate a breakdown of the support area and a continued fall in XRP/USD quotes with a target below the level of 0.5005. Confirmation of the growth of the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the 1.3655 area.

Cryptocurrency XRP Forecast October 18 — 22, 2021

Cryptocurrency XRP Forecast October 18 — 22, 2021 suggests an attempt to test the support level near the 0.9255 area. Where can we expect the continued growth of quotations with a potential target at the level of 1.8055. An additional signal in favor of a rise in XRP value will be a test of the trend line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be the breakdown of the 0.6505 area. This will indicate a continued decline with a target below 0.5005.

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XRP Lawsuit: SEC repeats “privileged documents” argument like a broken record

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ripple-v-SEC

After hitting face first in the DPP dispute, the SEC has continued to assert its “privileged documents” stance. The latest development in the XRP lawsuit saw the SEC submit a redacted version of the three additional documents requested by Ripple for in-camera review on the public docket. The commission also submitted an explanation for its privilege assertions for all those documents that the plaintiff had either redacted or withheld by logging them as “privileged”.

SEC asserts protection under DPP and irrelevance of documents

The SEC has reinstated its “privileged” stance, noting that the documents are pre-decisional and deliberative, and therefore protected by the deliberative process privilege. The plaintiff claimed that the court should not be disarming the SEC’s privilege because the additional documents along with SEC’s September 14 documents that the commission filed under Appendix A are both protected under DPP, and discovery will further discourage government employees from genuine deliberations regarding crypto regulations. Additionally, the commission asserts that the documents are also irrelevant to both, SEC’s claims, and defendants’ objections.

“The documents on Appendix A, the Additional Documents are protected by the DPP, and the compelled release of these documents would discourage meaningful deliberations among SEC staff relating to regulatory activities in the digital asset space. Moreover, like the Appendix A documents, the Additional Documents are wholly irrelevant to the SEC’s claims or the Defendants’ proposed defenses…None of these documents even comes close to addressing whether Defendants’ offerings of XRP are securities transactions. The Court should not pierce the SEC’s privilege under these circumstances.”

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Earlier this month the Court granted Ripple’s September 24 appeal, seeking the addition of three documents by the SEC for in-camera review. These documents include the two documents related to the SEC’s meetings with law firms, along the email trail concerning discussions with a third party who received guidance from the SEC to analyze its digital asset under the framework set forth in Hinman’s June 14, 2018, speech.

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