The post Analyst Sees 600% Potential Gain for XRP Price Amid Legal Victory appeared on BitcoinEthereumNews.com.

Recent debates among crypto analysts signal the positive change in attitudes towards Ripple’s XRP and potential increases in its value. Altstein, a trader famous for converting investments into profits, noted that it is high time to stop focusing on the negative that is surrounding XRP. He expects the asset’s value to rise by as much as 600% due to a positive court ruling and good market conditions. As pointed out by Altstein, XRP has bounced back, with its value rising from $0.43 to $0.64 in a week, which is a 48% improvement. I think it’s time to end the $XRP ߷ hate. ◉ Bounced back with a 67% pump after that major dip a few days ago.◉ Finally won their court case with the SEC—officially ‘not a security.’$XRP has broken above a solid zone and out of the symmetrical triangle. 5X to ATH next? pic.twitter.com/LHafuY0QWB — 💎ALTSTEIN TRADE💎 (@Altsteinn) August 8, 2024 Ripple Legal Victory and Market Reactions The outcome of the Ripple vs. SEC lawsuit has been instrumental in changing the market perception of XRP. The victory of Ripple in the case which led to the decrease of the fines proposed has supported the position of the asset in the market. As noted by Altstein this outcome means that XRP is not a security, opening the doors for rapid expansion. Subsequently, XRP has experienced a short-term rally after which it has struggled to overcome the $0.064 level. Additionally, legal analysts have challenged Elon Musk to consider incorporating XRP in the X Payments platform owing to this win. The platform is expected to launch in the current year and will incorporate fiat currencies. XRP Price Technical Analysis and Future Predictions CoinsKid provides more technical analysis that sheds light on potential resistance levels that XRP has to break to maintain a bullish trend. The analysis depicted…

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Filed under: News - @ August 10, 2024 11:18 am