Get Ready: Ripple Coin Primed for a Significant Breakout to $0.69 Or Beyond

The ongoing legal battle between the SEC and Ripple has caused jitters in the crypto market. Ripple XRP holders anxiously await the battle’s outcome while pondering the potential consequences.

Since 2020, the US Securities and Exchange Commission (SEC) has been on Ripple, its executives, and its coin XRP. 

The most recent court hearing occurred on March 20, 2023, with the SEC still insisting that Ripple sold its utility token (XRP) without getting necessary permissions from the agency. Since then, the coin has lingered within the $0.4 and $0.5 levels. 

 Ripple XRP Remains Resilient As Holders React To SEC’s Allegations

Some XRP holders are bashing Ripple for selling unregistered securities. Yet, the coin is enjoying several rally relieves amid the consolidation phase since the start of July.

The coin has surpassed its support level at $0.42116 in the last seven days, with its current price at $0.46675 and a new resistance at 0.55609.

Considering the position of the new resistance level, XRP still has many more bullish days before price stagnation.

Some analysts believe that since XRP is successfully upholding the bullish momentum in the market, it could surpass its current price, break the resistance and potentially reach $0.69 or beyond.

While this may be possible, other analysts believe examining market conditions, regulatory activities, and technical indicators could help hint at what to expect from the XRP in the long run.

 Ripple XRP Depicts Short-Term Bearish and Long-Term Bullish on Technical Indicators

The chart below represents a short-term bearish, and long-term bullish market for Ripple’s XRP.

A short-term trend indicator, Moving Average Convergence/Divergence (MACD), is above the signal line, representing the potential bearish tendency on the coin’s price.

Furthermore, considering the bold red bar on the histogram, XRP is prone to several price losses, which could push it down to the $0.45 level before the day ends.

Moreover, Ripple (XRP) is trading below its 50-Day Simple Moving Average (SMA), a short-term trend indicator, signaling a bearish market for the coins. As such, XRP could face persistent price fluctuations in the coming days to weeks.

In contrast, the market trend indicator, Relative Strength Index (RSI), is at 45.19, representing a neutral market position for Ripple (XRP).

It’s pointing up, indicating movements towards the overbought region (above 70) and suggesting potential price growth for the coin.

Also, XRP is still trading above its long-term price movement indicator, 200-Day SMA, projecting a bullish market for the coin, which means XRP could surge to $0.69 or beyond in the long run.

Since XRP has two different sentiments, the effects on its price could vary and could result in a temporary price decline or correction. 

This could be driven by profit-taking, negative news, or a general market downturn. The short-term bearish phase could cause the price to retrace or consolidate before resuming its long-term upward trend.

Also, the short-term bearish phase can allow buyers to enter the market at a relatively lower price. Investors who believe in the long-term potential of cryptocurrency may see this as an advantageous time to accumulate positions.

Meanwhile, during short-term bearishness within a long-term bullish trend, the price may exhibit heightened volatility and fluctuations. This can create trading opportunities for active traders who seek to profit from short-term price swings.

Why Ripple’s Price Could Increase?

Several factors could fuel the price growth of Ripple’s XRP. However, if Ripple wins the SEC’s lawsuit, clarifying that its token XRP is not a security, the coin could take a dramatic surge in no time. 

XRP Emerging as Non-Security

The US Securities and Exchange Commission sued Ripple Labs for selling an unregistered security, XRP. However, Ripple Labs is disputing the SEC’s claim that XRP is not a security.

While the lawsuit continues, professional XRP lawyer Attorney John Deaton tips Ripple’s victory at 25% and SEC at 3%.

Thus, if Ripple wins, projecting XRP as a non-security, the crypto will face less stringent regulatory requirements than securities. 

This can include exemptions from registration with the US securities authorities (SEC), fewer disclosure obligations, and less oversight. 

Also, if XRP is labeled as non-security, it could be primarily used as a medium of exchange or store of value rather than as an investment vehicle. 

Being labeled non-security can influence the market perception and investor sentiment toward XRP. Some investors may perceive the coin as more compliant, less prone to regulatory scrutiny, or potentially less risky legally.

Increase in Institutional Adoption

The entry of institutional investors, such as hedge funds, asset managers, or corporations, into the cryptocurrency space can significantly impact the price of XRP.

Institutional adoption can increase a cryptocurrency’s liquidity, credibility, and validation, leading to a potential price appreciation.

For instance, the positive review given to XRP by the Bank of America as a “Possible Exception” in terms of payment methods and its effect on cross-border payments could inspire other monetary institutions to adopt XRP. As such, the coin would gain increased adoption and utility and value.

While Ripple coin could commence a significant breakout in the long run, an all-inclusive AI ecosystem, yPredict, is taking the world by storm with its revolutionary multi-industry solutions.

yPredict ($YPRED) – All-in-One Innovative Ecosystem

yPredict.ai is a revolutionary ecosystem of Artificial Intelligence and Machine Learning experts, traders, and financial quants. 

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Considering the numerous utility of the $YPRED token on the platform, it’s entitled to a 10-100X price growth potential. 

yPredict to Become the Leading Ever-Growing AI Ecosystem

Besides bridging the crypto market gap, yPredict aims to become an ever-evolving ecosystem with ground-breaking AI products. 

The project has launched its Backlink estimator that accurately predicts backlink count, provides authority metrics, and proffers data-backed decisions for web developers. With this product, website owners can stay ahead in the competitive digital world.

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$YPRED Soars in Presale Phase

yPredict started offering its $YPRED token in a presale fundraising campaign on April 24, 2023. So far, the presale has raised $2.8 million in the long run, approaching the $2.9 million benchmark indicated on the presale widget.

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Considering the high level of investors’ interest in yPredict and its revolutionary solutions in the financial markets and AI industry, the project could become the leading AI ecosystem for traders, content creators, and software engineers.