XRP price may reach $1 this week with $2 billion trading volume.
The value of the cryptocurrency XRP has decreased by 1% in the past 24 hours, currently sitting at $0.521650. This drop is in line with the overall downturn in the cryptocurrency market.
However, XRP’s value has increased by 3% over the past week, and by 22% over the past 30 days. Additionally, the altcoin’s trading volume over the past 24 hours has remained close to $2 billion.
Unlike much of the wider market, XRP has not been as negatively affected by the legal actions taken by the Securities and Exchange Commission (SEC) against blockchain and Binance.
- EU to verify credentials using blockchain.
- Shiba Inu breaks formation, indicating possible further losses.
- South Korean court to rule on LUNC’s security status; Terraform’s Shin to stand trial.
Experts predict that XRP may experience significant gains in the near future, as they expect Ripple to win its case against the SEC.
XRP Price Prediction as $2 Billion Trading Volume Comes In – Can XRP Hit $1 This Week?
XRP’s indicators are currently positive, with the altcoin’s relative strength index above 50. This indicates that XRP is recovering from the market-wide impact of the SEC’s latest enforcement actions. Additionally, XRP’s 30-day moving average is still above its 200-day average, which suggests that the altcoin is likely to continue rising in the near term.
Furthermore, XRP’s support level has been rising since late May, forming a pennant with its resistance level that may result in a breakout.
The main reason for the predicted gains is the expected conclusion of the Ripple-SEC case, with experts predicting a favorable outcome for Ripple. Recent developments, such as the SEC’s receipt of legal advice that XRP is not a security, have strengthened this argument. Additionally, Ripple has been able to grow its business in recent months, even with the case casting a shadow over it.
Traders may also consider diversifying into other altcoins, such as ecoterra, which is an Ethereum-based recycle-to-earn platform that has raised over $4.8 million in its presale for its ECOTERRA token.
Investors can now purchase shares in this promising ecosystem by visiting the official ecoterra website and connecting their software wallets.
As of now, 1 ECOTERRA is worth $0.00925. However, its value will increase to $0.01 in just over 20 days, when it enters the next stage of its sale.
Click here to visit ecoterra.
