Price Analysis

XRP Price Is Pre-Programmed To Hit $10, Know Here Why!

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Nov 12, 2021

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Highlights

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  • XRP price movements are now in-line with prominent coins in the crypto industry.
  • The U.S SEC withholds the registration of two digital tokens.

  Crypto traders and investors cannot look away from XRP, as the coin still holds vital utility backing the protocol. The digital asset has given out appreciable returns, despite the legal tussle clamping its limits. While daily volumes look bland, zoomed-out perspective gives a clear picture of how tall the asset has risen.

Consecutively, the protocol is witnessing appreciable growth and adoption around the globe. Moreover, initiatives are helping to bank the people who are unbanked. On the other hand, enthusiasts question the SEC for not filing the injunction, while it opines undeterred with its claims. 

Ripple Breaks Through The Clutches Of The SEC!

 The Crypto market seems to be generous for several cryptos in the industry, and XRP is no different. As the digital asset experiences steady price movements alongside fellow top coins. This is a moment of applause for XRP hodlers, as the crypto performs independently of its shortcomings. Which refutes the baseless claims by the SEC that Ripple controls the XRP price.

Netizens to which, question the SEC’s inability the file an injunction to withhold the trade of XRP. The SEC fails to file an injunction, as it requires evidence that the firm will win at trial. And also that the plaintiff could suffer irreparable damage if the injunction is not granted. The SEC fails to file the injunction, as it holds no evidence. The SEC has withheld the registration of two digital tokens as securities.

On the other hand, Ripple announces that they’re launching a Ripple Liquidity Hub. Which allows their enterprise customers to just seamlessly access crypto assets. In addition, Pypyl in alliance with Ripple is helping bank those are unbanked. And their customers can remit money home in a significantly lesser time. 

XRP Price Analysis

 The digital asset at press time is trading at $1.22 with the market cap at about $58,117,233,860. The trading volume for 24-hours is about $7,505,989,440. The digital asset has been trading along with the range of $1.18 and $1.34. 

XRP enthusiasts are optimistic about the digital asset surging 10X from the current price. The analyst expects the coin to hit $20, however, pens his short-term targets at $1.536, $1.777, and $2.20. While support levels at $1.22 and 1.13. 

Collectively, the digital asset has its robust underlying protocol backing, which might take it well above the set targets. Moreover, Ripple holds an upper hand over the SEC in its legal battle. We can expect the case to subside in near future, as the SEC’s stand is weakening with each passing day. 

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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