XRP price prediction is bullish as it’s heading north toward $0.37. Ripple (XRP) coin price has been green and has gained significant traction near the 0.36 level. However, its upward trend could be linked to the latest critical SEC vs. Ripple lawsuit development.
The surge in Ripple occurred after crypto whales moved over 200 million XRP tokens (worth $72.6 million) in the last hour, causing the price of XRP to rise by about 5% on the day. Furthermore, the cryptocurrency market’s risk-on mood was viewed as another major factor supporting XRP coin values.
However, gains in the crypto market were confirmed after the world’s two most well-known cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), continued their bullish rally and held steady around the $17,000 and $1,300 price levels, respectively.
In addition, the listing of XRP against the USDT stablecoin on the main cryptocurrency exchange BitMart aided the price increase in Ripple. This was considered one of the most important XRP listings in the previous two years.
The current price of XRP is $0.36, with a 24-hour trading volume of $1 billion. XRP has gained nearly 5% in the last 24 hours. XRP is currently ranked sixth in the market, with a market capitalization of $18 billion.
Whales Seen Hauling $200 Million XRP
As previously stated, the price of XRP has increased by nearly 5% in the last 24 hours due to crypto whales moving more than 200 million XRP tokens. It is worth noting that the crypto whale engaged in numerous transactions totaling over 77 million XRP tokens. The cryptocurrency exchange Bitso has sold nearly $27 million in Ripple’s native coin. Nonetheless, the highest accumulation transaction was the 44 million XRP addition.
$XRP NEW ARTICLE : $XRP Whales Move Over 200 Million Tokens After Rapid Accumulation Period https://t.co/meuYlwL7dF Get all the latest $XRP.X related news here : https://t.co/ApK8ksA3Lf pic.twitter.com/kFU4MA1910
— STCK.PRO (@StckPro) January 4, 2023
Since the price of Ripple has risen significantly, several whales have moved their XRP holdings to cryptocurrency exchanges.
According to statistics, cryptocurrency “whales” transferred 80 million XRP tokens to Bitstamp, which are currently worth about $28 million.
The Evolution of Ripple and the SEC Case
However, the recent developments in the significant SEC v. Ripple lawsuit further strengthened the gains in the XRP token. According to General Counsel Stuart Alderoty, the court’s decision in the SEC lawsuit will be rendered in the first half of 2023 and will be in Ripple’s favor.
2/ Stuart Alderoty, General Counsel of Ripple, stated that this is Ripple’s final submission, asking the court to grant judgment in its favor pic.twitter.com/3BTnc2z67S
— Crypto India (@CryptooIndia) December 5, 2022
Alderoty believes that this will give the crypto industry in the US the boost it needs. He said, ” We’ve fought this case on behalf of the entire crypto industry and American innovation so we can gain the regulatory clarity we desperately need for crypto innovation to flourish in the United States.”
Risk-On Market Sentiment
The global crypto market has been booming since the start of the new year, fueled by a variety of factors. Everything has been boosting the crypto market, whether it is improved macroeconomic conditions, positive economic data, or increased whale accumulation, which has benefited several cryptocurrencies, including Ripple XRP.
#Bitcoin didn't took deeper pullback but printed a new Higher High as market is running healthy.
Around $17,500 is the tiny rejection area, and a breakout will open the gates for $18,000 and higher. So, keep an eye on #BTC $btc #bitcoinprice pic.twitter.com/f8M4YliqRH
— Crypto Yhutiee (@crypto_yhutiee) January 11, 2023
Bitcoin (BTC) and Ethereum (ETH), the world’s two most well-known cryptocurrencies, extended their long winning streaks and remained well-bid at around $17,000 and $1,300, respectively. Bitcoin has risen nearly 5% in the last seven days, trading above the $17,400 mark. While Ethereum was trading at around $1,350.
Bitcoin and Ethereum both maintained their positions, remaining above $17,000 and $1,300, respectively. Bitcoin (BTC) and Ethereum (ETH), the two most well-known cryptocurrencies in the world, maintained their long winning streaks and were actively traded at prices around $17,000 and $1,300, respectively.
Looking ahead, traders are now anticipating the publication of US inflation data, which is scheduled for tomorrow. This information will have a significant impact on the cryptocurrency market. Aside from that, traders’ attention will be drawn to the release of US consumer price index data for December, which is expected to show that inflation fell even further than in the previous month.
Take a Look at Other Cryptocurrencies
The digital coins mentioned below, which also are now in pre-sale, have already attracted investment due to their strong teams, innovative ideas, and high potential.
Fight Out (FGHT)
FightOut is a blockchain-powered move-to-earn (M2E) app and gym chain that encourages and rewards users for being healthy and active. Fight Out also promotes a sense of community in both local and online fitness communities. The app allows members of the community to take part in challenges and offer personal training regimens with progress tracking.
Fight Out will provide an engaging and rewarding way for people to be active and healthy, while also encouraging Web3 technology adoption and creating a better society. Their FGHT coin presale has raised nearly $2.8 million.
Thanks to the collaboration of LBank Labs, Cryptonews.com, Transak, and BlockMedia Labs, who provide both financial and operational support, FGHT is a wise investment right now before prices rise in its second presale stage. There’s also the chance to get a 50% bonus right away.
Dash 2 Trade (D2T)
The innovative capabilities of Dash 2 Trade have the potential to transform the cryptocurrency trading industry. Traders will have complete visibility and control over their assets, as well as access to a dynamic community where they can receive information for thoroughly analyzing projects before investing, thanks to the variety of tools available.
The Dash 2 Trade platform is intended to help both new and experienced traders develop trading strategies and use automated trading through exchange APIs. Furthermore, its token presale ranking system will give clients the confidence to invest in potential tokens before they go mainstream.
The popular D2T presale has come to an end, and new investors are only now being accepted. The team will be able to get off to a great start and continue to improve its platform with nearly $14.8 million in funding to date.
Related news
- XRP Price Prediction – Crypto Experts Reveal Where XRP is Headed in 2023
- XRP Price Prediction – Ripple’s XRP Ticks 3% Higher but can it Retake $0.50 by Xmas?
- XRP Price Prediction – Taking a Breather Before Test of Resistance at $0.50
Fight Out - Next 100x Move to Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $4M+ Raised
- Real-World Community, Gym Chain
This article was written for Business 2 Community by Arslan Butt.
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