The ripple effect of Ripple’s winning the SEC lawsuit seems to be subsiding, with XRP prices slipping more than 5% in the past 24 hours. With the SEC maintaining their regulatory squeeze on crypto giants like Coinbase and Binance, the entire crypto market has also felt the heat, shedding over 3% of its total value in the same 24 hour period. The big question now is – where does XRP go from here? Let’s analyze in this XRP price prediction article.
The Roller Coaster of XRP Prices
A period of intense excitement led to XRP prices soaring following the public disclosure of documents related to William Hinman, the former director of the Division of Corporation Finance at the U.S. Securities and Exchange Commission (SEC) from 2017 to 2020. This surge in investor confidence in XRP was however short-lived. As the initial hype started to fizzle out, prices took a downturn as investors began worrying about the potential negative outcomes.
XRP Price Analysis: A High-Pressure Scenario
As the investor excitement surrounding the Hinman documents amplified, XRP prices escalated by an impressive 12%, hitting a high of $0.56. However, the euphoria didn’t last long. As investor sentiment started to wane, the prices started tumbling back down in line with Bitcoin, which slipped below the critical $26,000 mark. In response, XRP breached its $0.50 lower price limit, reaching the current trading price of $0.47.
XRP Price Prediction: A Bleak Outlook?
If the wider crypto market continues to show weak signs of recovery, it’s reasonable to expect that XRP would follow the same trend. Based on the current market sentiments and XRP’s performance, it’s predicted that XRP could further slide down to the $0.44 price level. If the market condition continues to deteriorate, it wouldn’t be surprising to see as an XRP price prediction, XRP hitting the $0.42 mark.
