Ripple Price Forecast: XRP Surges After It Gives The SEC Another Beating In Court

Updated: 04 October 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Ripple (XRP) price surged almost 7% after the Securities and Exchange Commission’s attempt to appeal its landmark legal loss to the company in July was denied.

Judge Analisa Torres denied the SEC’s application on Oct. 3 on grounds that it had failed to prove that the decision was sufficiently faulty or problematic.

#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: Judge Torres has DENIED the SEC’s Motion to File an Interlocutory Appeal. https://t.co/czEIz93Vfn

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) October 3, 2023

Ripple victory — *Court reaffirms Ripple’s win over SEC*

Ripple Price Prognosis After Court Upholds Victory

Ripple price has pared some gains since the ruling sent it into orbit but it is testing the midline of the supply zone at $0.5337. This has been a multi-week hurdle and flipping it to a support level would be significant. Normally, when the price breaks above the midline (mean threshold) of an order block (demand or supply zone) it tends to record a continuation. The same goes for the price breaking above the midline (consequential encroachment) of a fair value gap (FVG).

In this case, a break and close above $0.5337 would clear the skies for Ripple price, sending it above the supply zone at $0.5536, or in a highly bullish case, extending to the $0.6098 level.

Conversely, a rejection from the $0.5337 could spell doom for XRP holders, potentially sending Ripple price down to close to $0.5145. This would mean the remittance token has succumbed to aggressive selling within the supply zone.

The ensuing seller momentum could send Ripple price to the $0.4452 range low. As such, investors looking to take long positions should wait for the price to make a decisive close above $0.5337. For shorts, stop losses should be right above the $0.5337.

Meanwhile, another project that’s on the up and making headlines is in the presale stage and some analysts are forecasting 10X growth potential.

XRP Alternative

Bitcoin Minetrix (BTCMTX) is a new crypto presale project presenting an innovative Bitcoin (BTC) mining solution. The project made its debut only recently but has managed to generate massive excitement across the crypto arena.

The main feature of the Bitcoin Minetrix ecosystem is its decentralized cloud mining solution. This is tailored to address the intricate issues related to Bitcoin mining. Among them are expensive hardware costs, potential for swindles, space, and size. With the BTCMTX ecosystem, however, you get to buy and stake your tokens to earn cloud-mining credits. This provides a safer and more transparent mining experience.

The stake-to-mine concept is an innovative notion, rekindling hope for everyday #Crypto enthusiasts to engage in #Bitcoin mining. 🪙#BitcoinMinetrix users simply require an Ethereum-compatible wallet like #MetaMask, keeping things straightforward. pic.twitter.com/zqRFP4I5uD

— Bitcoinminetrix (@bitcoinminetrix) October 3, 2023

The project’s decentralized working dynamics is powered by the BTCMTX token. It has made BTC mining a more accessible experience even to the ordinary folk, democratizing it so users can buy and stake tokens for credits. In turn, the credits can be redeemed for Bitcoin. This explains the “Stake-to-mine” description.

Introducing the #BitcoinMinetrix Stake-to-Mine Dashboard🌐

Allowing the management of $BTCMTX and mining credits in one place with the #BitcoinMinetrix dashboard. pic.twitter.com/lMO0hPkTwZ

— Bitcoinminetrix (@bitcoinminetrix) September 29, 2023

Join the many traders who are already flocking to the Bitcoin Minetrix website to buy BTCMTX at the current value of $0.011. It will never be this affordable again.

What’s more, even OpenAI’s ChatGPT has proposed diversifying your portfolio with less established assets. In this case, BTCMTX presents as the ideal candidate, given its yield-bearing benefits. As a side note, yield-bearing assets are advantageous during market downturns.

Visit Bitcoin Minetrix here