Ripple (XRP), the 4th largest crypto by market cap, recorded a 35.9% rally the other day and traded above $ 1.90. On the weekly and monthly chart, Ripple price increased by 107% and 307% respectively. Now analysts and traders expect more from XRP.
XRP in bullish trajectory on the 24-hour chart - Source: Tradingview
🚨Altstreet Bets: Ripple price can go up to $ 3 "no resistance"! Then $ 8.49 ...
Popular analyst Altstreet Bets shared the chart below to show that XRP's price could hit $ 3 “no resistance”. The analyst set the support for Ripple price at $ 1.10 and $ 1.72 and believes XRP could target $ 8.49 in the long term. Many factors contribute to the recent performance of XRP: the high interest of investors in South Korea, the purchase of crypto for a premium, and the new use case for XRP.
Source: Altstreet Bets
In the legal battle between Ripple and SEC, the company has achieved many successes. Ripple price has been rising since the company scored two major wins in its legal battle with the US Securities and Exchange Commission (SEC). Ripple has managed to keep the financial histories of Brad Garlinghouse and Chris Larsons under seal. Also, the company uncovered documents showing that the institution previously referred to XRP as a "cryptocurrency" rather than a security. Also recently, Ripple executives, as well as Brad Garlinghouse and Chris Larsen, who were also on trial under the lawsuit, filed a formal denial of the SEC's case against them.
Things seem to be going in favor of the payment company in the SEC case
Things seem to be going in favor of the payment company in the SEC case. Researcher Leonidas Hadjiloizou revealed the position of international institutions on XRP. Bank of International Settlements said in a report that XRP is "definitely not a security." Researcher Leonidas Hadjiloizou adds the following to his comments on the subject:
IF JAY CLAYTON BELIEVED THE SEC WOULD STILL ACT AFTER THEY LEFT, WOULD HE WANT TO SUE RIPPLE AS HE WALKED OUT THE DOOR ? I BELIEVE YOU WOULDN'T. THIS IS ONE OF THE REASONS WHY I BELIEVE THIS CASE WAS NOT REQUESTED BY THE SEC, AND IF HE CAN SAVE THIS CASE, HE WILL.
Although the legal dispute has not ended, sentiment regarding the outcome is on the rise in the crypto market. Popular analyst King Solomon said:
MOREOVER, THE CASE SEEMS TO REVEAL THAT FORMER SEC LEADERS PUT PERSONAL GAINS ABOVE THE WELL-BEING OF THE NATION. WHEN THE AGENCY CLAIMS “SEC IS NOT ON TRIAL HERE” IN APPLICATIONS AND HEARINGS, THE OPPOSITE IS ALMOST CERTAIN TO BE TRUE.
🚨Ripple Price Rises With One Notice! Analyst: These Levels Appeared
XRP takes advantage of use cases that expand to DeFi
The interoperability solution Wanchain has announced that XRP will be integrated into its own platform alongside Ethereum, Bitcoin, EOS and others. By taking advantage of "Wanchain's Universal Multiple Chain Bridges", users will be able to trade XRP Tokens with the cross chain. From now on, XRP holders can start earning with Wanchain DeFi protocols such as WanSwap, the platform's local decentralized exchange. Wanchain team made the following statement on the subject:
XRP HOLDERS CAN NOW SAFELY USE THEIR TOKENS FOR FARMING, MINING AND LIQUIDITY, RATHER THAN LEAVING THEM IN INACTIVE WALLETS AND EXCHANGES. XRP TOKENS CAN NOW INTERACT WITH DEFI APPLICATIONS AND REACH THEIR FULL POTENTIAL.
#Wanchain users will have a local wallet at their disposal and a #Wanbridge website where they can send and receive XRP cross-chains. To achieve this, the platform "transforms" its #XRP Ledger and, in the case of Ethereum, issues an ERC-20 token called wanXRP. All transactions using Wanchain are free.