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The post XRP Price: Here Are 2 Possible Price Targets For XRP in Coming Days appeared first on Coinpedia Fintech News
The XRP market experienced a 6% drop in the past 24 hours, following the trend of the volatile cryptocurrency market. Currently trading at $0.49, XRP had maintained its position above the 50-cent mark for the past three weeks. However, the recent dip in price may be an indicator of a possible bearish trend in the near future. Investors eagerly await the weekly close to determine the bullish outlook for XRP.
Possible XRP Short-Term Targets
According to a popular analyst on TradingView Yuriy_Bishko with over 78k followers, the Ripple case that is expected to conclude in May could have two outcomes for the XRP price action. On one hand, the analyst noted that if Ripple is found guilty of selling unregistered securities, the XRP price could drop to the nearest major support between $0.37-0.41.
On the other hand, the analyst highlighted that if the blockchain payment company is acquitted, and the XRP token is deemed a commodity, the underlying value will skyrocket.
Bullish Targets For XRP
The analyst mapped the main long-term targets for XRP in the SEC vs Ripple case ends in favor of the blockchain company. The first target for the XRP price mapped by the analyst is $0.66. The key level after that is $0.80, and then $1, which the analyst noted to be a huge resistance level
Related: Could Ripple’s Legal Victory Against SEC Trigger A Market-Wide Bull Rally? – Coinpedia Fintech News
Ripple and CBDCs
Amidst the ongoing legal proceedings, Ripple has continued to diversify into global markets that have enacted favorable crypto policies. For instance, Ripple and its management team including the Director of CBDC Product Management Anthony Ralphs got involved in a CBDC whitepaper research for the Digital Euro Association (DEA).
“There has been a lot of news regarding this company’s involvement in developing country currency analogs using blockchain solutions XRP,” the analyst highlighted.
Related: Ripple Price Prediction 2023, 2024, 2025: Will XRP Price Reach $1 By The End Of 2023?
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