Ripple News: XRP Price Poised 400x Rally If This 2017 Pattern Repeats
The post Ripple News: XRP Price Poised 400x Rally If This 2017 Pattern Repeats appeared first on Coinpedia Fintech News
Ripple Labs-backed XRP has struggled to maintain a bullish trend in the recent past amid the ongoing altcoin awakening. The ongoing SEC vs. Ripple lawsuit largely threatens the mid-capped altcoin as more investors stay away from XRP to avoid non-performing crypto portfolios.
With the crypto bull market already confirmed, more investors are positioning their crypto portfolios in altcoins with better fundamentals and higher performance odds. Consequently, XRP price action could again underperform in this bull market cycle unless the court and the US Congress issue clear crypto regulations.
Ripple Fights Backs US SEC’s Tactics
On Tuesday, United States Magistrate Judge Sarah Netburn granted the SEC’s motion to compel Ripple to disclose its XRP transactions for the past two years.
With the blow likely to impact the On-Demand Liquidity (ODL) customers in the United States, Ripple has requested a one-week extension of the deadline for remedies-related discovery from February 12 to February 20, 2024.
Meanwhile, the US SEC has proposed new rules to govern automated liquidity providers like XRPLs, which also blows XRP mass adoption.
How Far Can XRP Price Reach in this Bull Cycle?
Is This Finally XRP’s Time To SHINE, WIll hit $10 ?
Last bull #XRP seriously underperformed while stuck fighting the #SEC
BTC hit new highs while XRP failed to pass 2017’s $3.30 ATH
But with the SEC case now won – the floodgates may finally BE OPEN!
Similar… pic.twitter.com/joWLvBnadp
— Crypto Patel (@CryptoPatel) February 7, 2024
According to a popular digital asset analyst, Crypto Patel, the XRP price has a higher chance of breaking out in a parabolic fashion soon. After consolidating in a triangular range over the past six years, XRP price has undeniably accumulated more positive fundamental aspects.
As a result, the crypto analyst expects the XRP price to reach 90 cents after a successful breakout from the consolidation range between 40 and 50 cents. Afterward, the crypto analyst believes the pathway to an all-time high (ATH) will be clear, and a parabolic rally toward $10 will be inevitable.
Filed under: Bitcoin - @ February 7, 2024 6:22 am