XRP Price Prediction as Bulls Hold $0.46 Level – What is the Next XRP Target?
The XRP price has dipped to $0.468321this morning, representing a 3% drop in the past week and a 5% loss in the last 30 days.
However, the altcoin has held to the $0.46 support level, while it also remains up by 37% since the beginning of the year, largely on the basis of positive expectations surrounding the Ripple-SEC case.
This case is expected to end in the coming weeks, and if it provides Ripple with a happy ending, there's no doubt that XRP would rally massively.
And in the longer term, with Ripple's business still expanding even under the shadow of the aforementioned case, XRP could end up becoming one of the biggest success stories of 2024.
XRP's chart and indicators are in a position where the altcoin can be expected to make some serious gains in the not-too distant future.
Its relative strength index (purple) is getting close to 50 after dipping almost to 30 last week, indicating some recovery of momentum.
In parallel, XRP's 30-day moving average (yellow) has reached what looks like a bottom in relation to its 200-day average (blue), implying that the coin is oversold and will have to correct upwards sooner or later.
As we noted above, its ability to correct positively will depend almost entirely on the outcome of Ripple's case against the SEC, which is still awaiting its conclusion.
Pretty much all the major pieces of evidence and testimony in the case had been presented and briefed as early as January, something which arguably indicates that a decision is long overdue.
And for many, when such a decision comes – be it a summary judgment from the judge or settlement between the two parties – it's likely to be favorable to Ripple, in that it will enable the company to continue its business as normal, while also enabling
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