XRP Price Prediction as XRP Turns Green – $1 Incoming?
By Published On: November 16, 2022Categories: Uncategorized0 Comments

The XRP price has risen by 17.8% since falling to two-month lows on Monday when the ongoing FTX bankruptcy crisis pushed the wider cryptocurrency market down to a total cap of $859 billion. At $0.385257, XRP’s current price represents a very slight 0.3% dip in the past 24 hours, as well as a 19% drop in the last 30 days.With the Ripple-SEC legal battle still dragging on, prospects for the XRP price in the short term remain uncertain. While previous months had brought plenty of positive developments for Ripple in its tussle with the securities regulator, last week saw the latter win an important — and similar — case against file-sharing cryptocurrency LBRY.As such, the probability of Ripple securing a favorable outcome in its case has arguably dipped, implying that the XRP price may never fully recover. That said, if Ripple does win, XRP has every chance of passing $1 and beyond.XRP Price Prediction as XRP Turns Green – $1 Incoming?According to XRP’s indicators, it’s currently losing momentum and undergoing a downswing. Its relative strength index (purple) fell below 30 in the past few days, indicating strong selling, and while it has recovered a little more recently, it looks to be dipping back to 40.Similarly, its 30-day moving average (red) is pointing downwards and may fall below its 200-day average (blue) in the next week or so, signaling a ‘death cross.’ This would portend further losses, at which point it may reach a bottom, providing a good time to buy at a discount.As we’re now warning with pretty much every other coin in the market, the ongoing FTX crisis threatens to push XRP’s prices down further in the shorter term. The collapsed exchange is currently under administration after filing for chapter 11 bankruptcy, which potentially holds out the remote hope of returning to normal operations. However, if these bankruptcy proceedings end with FTX being dissolved and shut down, it’s likely to have yet another negative impact on the market.On top of this, given how heavily invested FTX and related company Alameda Research was in the crypto ecosystem, it’s likely the market will witness some noticeable contagion effects. Again, this will depress prices even further for XRP and most other tokens.XRP also faces the issue of Ripple’s case with the SEC. While previous months had brought a consensus that Ripple had a very good chance of gaining a positive outcome, LBRY’s loss has cast such confidence into doubt.However, while some observers have played up the negative implications of LBRY’s defeat, others — including long-time Ripple/XRP-championing lawyer John E. Deaton — have claimed that it makes no real difference to Ripple’s case since the two differ significantly.It’s therefore up in the air as to whether Ripple will prevail, with no real certainty or confidence either way as to what will happen in a few months’ time.Alternatives for GainsEven assuming that Ripple wins its case or settles, an outcome isn’t likely for several months yet. In the meantime, traders may therefore prefer to ...

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