The post XRP Set for Rebound Despite FUD and Legal Challenges, Experts Predict appeared on BitcoinEthereumNews.com.

The relative inactivity surrounding XRP has sparked considerable fear, uncertainty, and doubt (FUD) within the cryptocurrency community. This situation has left Ripple’s CEO disheartened, especially given the regulatory clarity around XRP in the U.S. Contrary to the prevailing skepticism, crypto analyst BarriC has invalidated the negative sentiment and forecasts a recovery in XRP’s value soon. XRP has recently faced substantial FUD, but experts see potential for a rebound. Learn more about the ongoing developments in this article. XRP’s Struggles Despite Regulatory Clarity XRP’s stagnant price movement has been the focal point of much controversy and negative sentiment or FUD. Ripple’s CEO, Brad Garlinghouse, has openly voiced frustration over the lack of momentum in XRP’s value, especially considering its definitive regulatory status in the United States. This clarity came from a landmark decision in July 2023 when a U.S. Judge ruled that XRP is not a security for secondary market transactions. Post-verdict, XRP’s price surged by over 100%, hitting a seasonal high of $0.93. However, the surge was short-lived, with the price plummeting by about 50% shortly afterward, a state in which it has consistently remained for months. Lack of Market Recognition Despite major U.S. cryptocurrency exchanges like Coinbase, Gemini, Crypto.com, and Kraken relisting XRP following the court ruling, the cryptocurrency’s market performance remains underwhelming. Moreover, investment firm Grayscale also reinstated XRP in its product offerings. Nevertheless, these developments have not substantially lifted XRP’s price, keeping it firmly within its post-July 2023 levels. Analysts’ Perspectives on XRP’s Future Renowned crypto analyst and XRP supporter, BarriC, recently voiced his insights on XRP’s trajectory. Addressing claims that XRP’s price has been stagnant since 2017, BarriC highlighted the altcoin’s historical price trends through various market seasons. In light of the protracted Ripple lawsuit and subsequent delistings, BarriC explained that XRP’s performance is unique compared…

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Filed under: News - @ June 16, 2024 1:22 pm