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The XRP price has increased by nearly 2% in the last 24 hours to trade at $0.6131 at 5:20 a.m. EST as trading volume slumped 14%.
The XRP price has jumped from $0.6012 to $0.6139 following recent speculation about the SEC’s confidential meeting with XRP scheduled for November 30 and whether or not the two might settle their legal dispute.
🇺🇸 As part of the potential settlement between Ripple and the SEC, both parties are due to have a closed-door meeting.
— Cointribune EN (@CointribuneEN) December 1, 2023
Doing so would mean ending a three-year-long legal battle between the two entities, which started with the US SEC accusing Ripple and its officials of selling unregistered securities and misleading investors.
Ripple has secured some partial wins over the regulator this year, which have brought optimism to the crypto industry and the SEC’s action into question. However, the legal conflict is still unresolved, hence the confidential meeting.
🚨RUMOR 🚨
XRP RIPPLE VS SEC SETTLEMENT IN
FEW HOURS BECAUSE RIPPLE HAVE
A MEETING WITH SEC TODAY.— Ash Crypto (@Ashcryptoreal) November 30, 2023
The meeting is a part of the Sunshine Act Meetings, and it represents a closed-door session where Ripple and the SEC will discuss various topics, including the settlement of administrative proceedings, litigation-related matters, and injunctive actions.
The settlement could shape the future of Ripple, XRP, and the broader crypto market.
XRP Price Forecast in Light of a Potential Ripple-SEC Settlement
The SEC-Ripple meeting could set the stage for the future of the entire crypto industry, so it is no surprise that all eyes are on the regulator and the defiant crypto company.
Experts have speculated on the outcome for days and what it might mean for the XRP price.
Some predictions suggest that a settlement that favors Ripple could significantly increase XRP’s value, with short-term forecasts suggesting that the coin could land anywhere from $0.71 to $0.88.
Some technical indicators also suggest that the surge is coming, including that the 4-hour candle has broken out of the Fibonacci zone and day trendline.
The coin has seen strong indicators that mimic a U-shape chart pattern, which is also noticed with gold and other major cryptos.
As of the time of writing, Ripple’s XRP is consolidating in the $0.58/$0.61 zone. The short-term downtrend is broken, and support at $0.59 still manages to hold firm.
On the other hand, XRP still has a solid short-term resistance at $0.62 to deal with. Even so, bullish indicators suggest it might soon breach this level and potentially go for $0.7.
A significant portion of the coin’s short-term behavior will likely be decided by fundamental reasons, which could lead to two scenarios — one leading XRP toward $0.7 and potentially $0.8, or the other causing the coin to drop to $0.55 before recovering back toward $0.65.
XRP Price: Promising Alternative
One of the most promising XRP alternatives is BTCMTX, a token powering the Bitcoin Minetrix project.
The project aims to bring back faith in the cloud mining of Bitcoin, the world’s largest and oldest cryptocurrency.
Like other cloud mining projects, users can avoid purchasing expensive equipment or paying massive electricity bills. However, unlike other projects, it is fully decentralized and transparent.
What is #BitcoinMinetrix?🛠️🪙#Bitcoin Minetrix is a tokenized cloud mining platform that allows everyday people to mine $BTC in a decentralized way.
Solving a huge problem by removing the risk of third-party cloud mining scams and putting the control into the hands of users. pic.twitter.com/LOY6lpZMja
— Bitcoinminetrix (@bitcoinminetrix) September 25, 2023
This was done intentionally, as the project aims to restore the users’ faith in cloud mining, which was previously damaged by numerous fraudulent or weak platforms that failed the community.
#BTCMTX offers a trustworthy cloud mining solution for all #Crypto enthusiasts.
Past concerns about high hardware costs and deceitful cloud mining scams have deterred many from entering the space.
This decentralized method ensures a transparent and secure mining journey.🔒 pic.twitter.com/I600MjT8HE
— Bitcoinminetrix (@bitcoinminetrix) September 25, 2023
Bitcoin Minetrix stresses that BTC mined in 2013 has seen a 27,300% value increase in 10 years, suggesting that mining the coin now could lead to similar gains in another decade.
All users need to join is to obtain their BTCMTX token, stake it, and receive credits used to mine BTC.
Its presale has attracted numerous like-minded investors, allowing it to raise $4.6 million as of the time of writing, while its token price is $0.0119.
However, in less than 24 hours, the token will increase in price, so anyone wishing to purchase it has to act fast. BTCMTX is available in exchange for ETH or USDT but can also be purchased via credit/debit card.
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