Ripple

Here’s How An Unfavourable Court Ruling Could Impact The XRP Token

Author: Qadir AK

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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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The recent price movements in XRP reflect its exceptional performance in court and have been massively beneficial to investors. 2022 has been a tough year for the entire cryptocurrency market due to the halt of the bull market. According to the XRP price prediction, the Ripple cryptocurrency may hold its position; thus, it is an excellent investment option with a fantastic purchasing opportunity.

However, XRP faces considerable risk until the final decision in the Ripple case against the SEC is out. The Ripple cryptocurrency will suffer due to an unfavorable ruling, which may further lead to the Ripple coin declining by 18% to 19% at the start of the final quarter in October.

Even then, the XRP price prediction expects the Ripple token to maintain an upward trend over the long term.

XRP Price is all set to explode

XRP price surged by 42% and reached its high of $0.547 last month after facing equal bullish-bearish dominance. The bears dropped the prices at the lower trend line of the symmetric triangle resulting in a 25% price drop. Soon after, the bulls tried to make a comeback, and the XRP token peaked at $0.5109. 

The bears dropped the prices to the lower trend line but were unsuccessful in sustaining there. The prices immediately recovered and resulted in a 14% price spike. The bears are trying hard to push the prices below this level despite being unsuccessful.

The XRP prices will drop at the lower trend line and attempt a rebound after the bears push the prices downward. The Ripple token will breach the triangle and reach its high at $0.5590. This will result in a bullish scenario. The prices may sweep below $0.468 if they break through the current level resulting in a bearish market. 

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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