XRP Price Prediction as SEC Pushes for $2 Billion Penalty Against Ripple – Will XRP Plummet?
The XRP price has slid by 1.5% in the past 24 hours, dropping to $0.5136 after the SEC filed in support of its motion requesting a nearly $2 billion penalty for Ripple.
XRP is now down by close to 1% in a week and by 17% in a month, with the altcoin up by a very modest 20% in the past year.
This means that XRP has significantly underperformed relative to other major tokens (e.g., BTC, ETH, SOL), yet the implication of its underperformance is that it could potentially surge in the coming months.
This is particularly the case if the eventual penalty doesn’t end up being as steep as feared, freeing Ripple to move on from its long-running legal saga.
XRP follows most of the market in having a subdued chart with weak indicators, with the pain likely to continue for at least a few more days before things pick up.
Its 30-day average (orange) has only recently dropped below the 200-day (blue), meaning that it needs a little more time before bottoming out.
It’s a similar story with the relative strength index (purple), which, after spending several days above 50, has recently dropped towards 40 and under.
Again, it may need to languish for two or three days yet before XRP begins recovering, although any further losses shouldn’t be significant.
The reason why the coin has been unable to progress much during recent bull periods is the ongoing Ripple-SEC case.
The latter is nearing its end, with Ripple pushing for a settlement penalty in the region of $10 million, and SEC pushing for a figure closer to $2 billion.
The Ripple v. SEC briefs are FINISHED!
And I think the SEC went out with a whimper here.
It didn't even try to attack ODL sales, just noting that Ripple was trying to re-litigate the issue (which it is).
And it brought nothing new on
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