It is no secret that Ripple company is still battling its lawsuit with the SEC. When good news surfaced about how this company had an edge in the battle, XRP prices skyrocketed. This made many investors jump back on board and invest in this cryptocurrency. On the other hand, the crypto market witnessed a big price adjustment across all cryptocurrencies, and XRP took a big hit as well. Today, XRP prices seem to stabilize and look like things are back on track. In this article, we’ll lay out an XRP Price Prediction that shows why currently, XRP is on a healthy uptrend.
XRP Price – The Story so Far
Ripple company gets ahead in the Lawsuit
Back in April 2021, news surfaced that Ripple company managed to get ahold ofimportant information regarding the lawsuit. This put them in a stronger position to battle the SEC, as they now know more about their weak points. After an extended consolidation below USD 0.60, and while other cryptos were skyrocketing, the XRP token finally started to Boom. In fact, XRP was always a lagger in the crypto sphere, as even back in 2017, XRP took a while before “awakening” from its USD 0.20 consolidation.
XRP Crashed with the Crypto Market
When Vitalik started dumping his Dog Token, and Elon Musk disowned Bitcoins, chaos got spread in the crypto market. The XRP token got its share of this damage and its price crashed back to its previous strong support area. Prices fell from a high of USD 1.6 all the way to USD 0.70, or a crash of 56% in prices. In fact, most cryptos lost around the same percentage in their valuations.
Following the latest crash, XRP’s current price rebounded from its strong support area of USD 0.88 towards USD 0.93. Its current market capitalization is around USD 43 Billion and is currently ranked #7 as the biggest crypto by market capitalization. Despite the recent crash, XRP’s technical price action shows a light but steady uptrend. This bounce comes after reaching a low price of USD 0.70. The short-term target of XRP should be the psychological price of 1$ which is highly anticipated among XRP investors. If the crypto market continues on its steady uptrend, XRP should easily break upwards and pierce through the 1$ area. If this happens, positivity in the market should skyrocket prices even higher, as usually strong volumes occur after such price increases.
The whole Crypto Market
In the past 7 days, it looks like the crypto market is back up and recovering from its previous crash. The biggest winners were Theta Fuel (TFUEL), Curve DAO Token (CRV) and Solana (SOL), which made +40% returns since the past week:
1- Bitcoin (BTC) : + 1.43 %
2- Ether (ETH) : + 13.29 %
3- Tether (USDT) : 0 %
4- Binance Coin (BNB): + 18.94 %
5- Cardano (ADA) : + 3.22 %
6- Dogecoin (DOGE) : + 22.28 %
7- Ripple (XRP) : + 6.74 %
8- USD Coin (USDC) : + 0 %
9- Polkadot (DOT): + 17.25 %
10- Uniswap (UNI) : + 4.08 %