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XRP Price Faces Uphill Battle: Struggles to Initiate Fresh Upside

XRP price is struggling to clear the $0.5120 resistance. The price could decline again in the near term if it stays below $0.5060 and $0.5120.

  • XRP is struggling to gain pace for a move above the $0.5120 level.
  • The price is now trading below $0.5050 and the 100-hourly Simple Moving Average.
  • There is a short-term declining channel forming with resistance at $0.5040 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a decent increase if there is a close above the $0.5120 resistance.

XRP Price Stuck Near $0.50

Yesterday, we discussed how XRP price started a recovery wave, like Bitcoin and Ethereum. There was a move above the $0.4950 and $0.50 resistance levels.

The price even moved above $0.5100, but the bears were active near the $0.5120 resistance. A high was formed at $0.5120 and the price is now correcting gains. There was a move below the 50% Fib retracement level of the upward move from the $0.4865 swing low to the $0.5120 high.

The price is now trading below $0.5050 and the 100-hourly Simple Moving Average. However, the bulls are active above the 61.8% Fib retracement level of the upward move from the $0.4865 swing low to the $0.5120 high.

Immediate resistance is near the $0.5040 level and the 100-hourly Simple Moving Average. There is also a short-term declining channel forming with resistance at $0.5040 on the hourly chart of the XRP/USD pair. The first key resistance is near $0.5060. A close above the $0.5060 resistance zone could send the price higher.

XRP Price

The next key resistance is near $0.5120. If the bulls remain in action above the $0.5120 resistance level, there could be a rally toward the $0.5250 resistance. Any more gains might send the price toward the $0.5350 resistance.

More Losses?

If XRP fails to clear the $0.5040 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4965 level. The next major support is at $0.4925.

If there is a downside break and a close below the $0.4925 level, the price might accelerate lower. In the stated case, the price could even drop below the $0.4865 support zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.4965 and $0.4925.

Major Resistance Levels – $0.5040 and $0.5120.

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XRP Set For Major Upswing: Top Analyst Reveals Timing For $10-$20 Price Milestone

XRP, the cryptocurrency associated with Ripple, has been locked in a lengthy period of consolidation, trading between $0.300 and $0.600 for the past seven years. 

Despite a brief surge during the 2021 bull run that saw XRP reach a three-year high of $1.9 in April, the token has since returned to its range, lacking the bullish momentum to overcome upper resistance levels. 

However, some crypto analysts are now predicting a major uptrend for XRP in the coming months, potentially propelling it to new heights.

Analysts Anticipate XRP Breakout

A technical analyst using the pseudonym “U-COPY” on the social media site X (formerly Twitter) suggests that XRP could experience significant movement between May 15 and August. 

U-COPY points out that XRP has been slowly moving up from its previous low at $0.46 and is nearing the end of a long triangle formation, which has been in accumulation since 2018. 

The analyst believes that XRP’s real potential will be revealed in the fully formed bull cycle, with the token possibly experiencing substantial growth by the end of the year.

Supporting this bullish outlook, another analyst, Armando Pantoja, proposes that the crypto bull run could begin in September or October 2025, with XRP potentially reaching a price of $0.75. 

Pantoja further suggests that if former US President Trump wins the election and the Securities and Exchange Commission (SEC) eases its stance on cryptocurrencies, XRP could be propelled to higher levels. 

This change in regulatory dynamics, combined with the ongoing legal battle between Ripple and the SEC, may increase the likelihood of XRP gaining approval for an exchange-traded fund (ETF) similar to Bitcoin. 

Pantoja outlines a price range of $1-2 for an XRP ETF announcement in early 2025. If interest rates are cut multiple times during the same period, XRP could potentially reach $5-10. Ultimately, Pantoja predicts the possibility of XRP hitting $10-$20 by the fourth quarter of 2025 or the first quarter of 2026.

‘Buy the Dip’ Opportunity? 

According to market intelligence platform Santiment, The XRP Ledger (XRPL) has recently witnessed a notable increase in the movement of dormant tokens, signaling a potential shift in market dynamics for the token. 

Coinciding with the opening of May, the company’s Token Age Consumed metric reveals a spike in the transfer of old coins, reminiscent of a similar occurrence in April, just before a significant downturn in the market. During that period, XRP experienced a sharp decline in value, dropping by 16%.

However, in contrast to the previous event, Santiment suggests that there is a “compelling argument” that this current surge in old coin movement might be attributed to the interest of key stakeholders looking to “buy the dip.” 

Furthermore, it is worth noting the growing open interest in exchanges, which has recently reached a three-week high. This uptick in open interest indicates increased active positions in XRP, potentially reflecting growing market participation and heightened trading activity.

Considering these factors together—the surge in dormant token activity, the potential buy-the-dip interest from key stakeholders, and the rising open interest on exchanges—there appears to be a shift in sentiment surrounding XRP. 

XRP

At press time, the seventh-largest cryptocurrency trades at $0.5020, down over 7% in the past week alone and 1% in the past 24 hours. 

Featured image from Shutterstock, chart from TradingView.com 

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Can XRP Price Maintain Momentum? Key Levels to Watch in the Short Term

XRP price is attempting a recovery wave from the $0.4865 support. The price could gain bullish momentum if it clears the $0.5120 resistance.

  • XRP remained stable and started a recovery wave above $0.500.
  • The price is now trading above $0.5050 and the 100-hourly Simple Moving Average.
  • There was a break above a major bearish trend line with resistance at $0.5025 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a decent increase if there is a close above the $0.5120 resistance.

XRP Price Reclaims $0.50

After a steady decline, XRP price found support near the $0.4865 zone. A low was formed at $0.4864 and the price is now attempting a recovery wave, like Bitcoin and Ethereum. There was a move above the $0.4950 and $0.50 resistance levels.

Besides, there was a break above a major bearish trend line with resistance at $0.5025 on the hourly chart of the XRP/USD pair. The pair even spiked above $0.5100. A high was formed at $0.5120 and the price is now consolidating gains.

There was a test of the 23.6% Fib retracement level of the upward move from the $0.4867 swing low to the $0.5120 high. The price is now trading above $0.5050 and the 100-hourly Simple Moving Average.

XRP Price

Immediate resistance is near the $0.5085 level. The first key resistance is near $0.5120. A close above the $0.5120 resistance zone could spark a strong increase. The next key resistance is near $0.5220. If the bulls remain in action above the $0.5220 resistance level, there could be a rally toward the $0.5350 resistance. Any more gains might send the price toward the $0.550 resistance.

Another Decline?

If XRP fails to clear the $0.5120 resistance zone, it could start another decline. Initial support on the downside is near the $0.5050 level and the 100-hourly Simple Moving Average.

The next major support is at $0.50 or the 50% Fib retracement level of the upward move from the $0.4867 swing low to the $0.5120 high. If there is a downside break and a close below the $0.50 level, the price might accelerate lower. In the stated case, the price could retest the $0.4865 support zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.500 and $0.4865.

Major Resistance Levels – $0.5120 and $0.5220.

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Gaming The System: Pundit Reveals Why XRP Price Will Reach $33

A crypto analyst has predicted a substantial bullish surge for the the XRP price in the future. According to the analyst, XRP is gearing up for a substantial increase to $33.5 from an initial price of $0.50. He expects the price of the cryptocurrency to explode by 6600% in this current market cycle.

Analyst Forecasts Exponential Rise In XRP Price

In a recent X (formerly Twitter) post, a crypto analyst identified as ‘Egrag Crypto,’ revealed a series of bullish price targets for XRP in the near future. The analyst focused his predictions on a technical analysis called “the Line of Hestia.” 

Related Reading: US Mega Banks JP Morgan And Wells Fargo Unveil Bitcoin Exposure As BTC Drops To $60,000

Egrag Crypto’s latest findings suggest that XRP could rise to $33.5 if it touches the Line of Hestia, a technical indicator featuring an ascending trend line which signals a potential upsurge for the price of a cryptocurrency. According to the analyst, “Historical data indicates that every time the XRP price touches the “Line of Hestia,” it experiences significant price pumps.” 

This implies that there may be a correlation between XRP’s bullish price movements and the ascending trend line. Egrag Crypto also revealed that following this historical pattern, XRP has witnessed pumps ranging from 6600%,1444%, 100%, 80%, and 171%. 

Given the established trend, Egrag Crypto predicts XRP’s ascent to new all-time highs. He calculated the average percentage increase of XRP’s price each time it touched the Line of Hestia, dividing the sum by the total number of occurrences, which is five. 

Using this data, the crypto analyst estimates that if XRP were to experience a 6600% increase, its future price would be $33.50. Similarly, he calculated new prices for XRP based on the previous percentages.

It’s important to note that the price of XRP, at the time of writing, is trading at $0.5. The cryptocurrency has been recording considerable declines over the past year, consolidating around the $0.5 price mark for months. According to CoinMarketCap, XRP has also recorded a 7.35% decrease over the past seven days and a 0.08% decline in the last 24 hours. 

Although Egrag Crypto has remained optimistic about XRP’s future price, other crypto community members have expressed skepticism over the analyst’s ambitious forecast. A few community members have denied the prediction, emphasizing that the cryptocurrency’s surge to $33.5 during this cycle was highly unlikely. 

Possible Price Correction Ahead Of Projected Surge

In one of his most recent X posts, Egrag Crypto disclosed that XRP could witness a major price correction before experiencing a significant rally. The analyst has urged crypto investors to remain cautious of the cryptocurrency unless the XRP/BTC ratio closes above the $0.00010 threshold. 

Related Reading: Is The Bitcoin Bottom In? Buy The Dip Sentiment Erodes Amid Drop Toward $60,000

Egrag Crypto anticipates a potential 45% decline for XRP/BTC, emphasizing that this substantial price drop could indicate a bottom between $0.0000055 and $0.0000077. However, he also disclosed that overcoming resistance at $0.00001 would be crucial for a rebound in XRP.  

XRP price chart from Tradingview.com

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XRP Bears Keeps Pushing, Indicators Suggest A Strengthening Case of More Losses

XRP price started a fresh decline from the $0.5050 resistance zone. The price could decline further if there is a close below the $0.4865 support.

  • XRP extended losses and traded below the $0.500 support.
  • The price is now trading below $0.4950 and the 100-hourly Simple Moving Average.
  • There is a key bearish trend line forming with resistance at $0.4980 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could slide further toward the $0.4550 support in the near term.

XRP Price Dives Below $0.50

Recently, XRP price attempted a recovery wave above the $0.5050 level. However, the bears were active and the price started a fresh decline below the $0.500 support, like Ethereum and Bitcoin.

There was a move below the $0.4920 and $0.4880 levels. A low was formed at $0.4867 and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level of the downward move from the $0.5085 swing high to the $0.4867 low.

The price is now trading below $0.4950 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.4980 level. There is also a key bearish trend line forming with resistance at $0.4980 on the hourly chart of the XRP/USD pair. It is close to the 50% Fib retracement level of the downward move from the $0.5085 swing high to the $0.4867 low.

XRP Price

Source: XRPUSD on TradingView.com

The first key resistance is near $0.500. A close above the $0.500 resistance zone could spark a strong increase. The next key resistance is near $0.5085 and the 100-hourly Simple Moving Average. If the bulls remain in action above the $0.5085 resistance level, there could be a rally toward the $0.5250 resistance. Any more gains might send the price toward the $0.550 resistance.

More Losses?

If XRP fails to clear the $0.50 resistance zone, it could start another decline. Initial support on the downside is near the $0.4865 level.

The next major support is at $0.4780. If there is a downside break and a close below the $0.4780 level, the price might accelerate lower. In the stated case, the price could retest the $0.450 support zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.4865 and $0.4780.

Major Resistance Levels – $0.500 and $0.5085.

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Crypto Analyst Says XRP Price Can Break Out From Falling Pennant, But Can It Reach $1?

The XRP price, like the rest of the crypto industry, continues to struggle against the bearish winds that have taken over. This has seen its price consistently decline in spite of bulls’ best efforts to prop it up. However, it seems all hope is not lost for the altcoin as expectations are that it will recover soon enough. More specifically, crypto analyst WalterMoon is particularly bullish on the XRP price, noting that it is possible that it will break out of its current pennant.

Analyzing The XRP Price Movement

To try and pinpoint where the XRP price is headed, the crypto analyst first analyzed the movement of the altcoin over the last few weeks. This analysis showed a consistent breakout trend, albeit short-lived, that suggests that the altcoin could be getting ready to mount another one soon.

One of these breakout trends took place last month in May when the price had entered a failing channel. Eventually, the XRP price was able to muster enough momentum, even after breaking below its support line below $0.5 and then made a run for $0.52.

Again, this is seen later in the month when the price once again fell into a falling channel. This decline saw it fall below support. But like the previous time, it was able to move upward inside this falling channel and eventually broke out of the channel.

XRP price chart from Tradingview.com

This trend was recorded a number of times in the month of May, showing XRP’s strength in the market right now. However, the altcoin has fallen inside another falling channel once again, but can it maintain its breakout trend from last month?

Gathering Support Inside A Pennant

Crypto analyst WalterMoon has identified the XRP price inside a falling channel and as it continues to decline inside this pennant, the price has taken hit after hit. But given the performance from the last month, Moon believes there is still upside to come for XRP.

According to the analyst, there is a possibility that the altcoin can exit its current pennant by bouncing off the support at $0.533. In this case, it could send the price as high as $0.54, like it did the previous times. “Now, I think that Ripple can bounce up from support line to $0.5330, thereby exiting from pennant,” the analyst said.

Despite the bullish outlook, WalterMoon’s target is still conservative for all intents and purposes. The target still remains above the $0.54 level, which, unfortunately, doesn’t show much expectation for the XRP price to cross $1.

XRP price chart from Tradingview.com

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What Triggered The 6,350% Spike In XRP Long Liquidations Compared To Shorts?

The bulls have continued to take a beating in the market, and XRP bulls, in particular, were recently in the spotlight as $1.27 million was liquidated from their long positions. This 6,350% spike in long liquidations is likely due to XRP’s recent price action, highlighting the general sentiment in its ecosystem. 

$1.27 Million In Longs Get Liquidated

Data from Coinglass shows that $1.27 million in long positions have been liquidated in the last 24 hours. This is massive in comparison to the $19,220 liquidated in short positions during this period. This occurrence was likely due to the 3.85% drop in XRP’s price, as the crypto token dropped to as low as $0.51 in the last 24 hours. 

XRP’s price decline during this period is believed to have been caused by the sharp correction in Bitcoin’s price, with the flagship crypto dropping below $62,000 again. However, there also seems to be a bearish sentiment in the XRP ecosystem, as data in the XRP derivatives market shows that trading volume has dropped by over 26%. 

Meanwhile, options trading volume has also dropped by over 46%. These figures suggest that XRP investors are choosing to remain on the sidelines, seeing as the bears look to have the upper hand at the moment. However, the bright spot is that there has been an uptick in open interest, which means some bulls are still willing to bet on the crypto token. 

These bulls might have a good reason to gamble on the crypto token, seeing as crypto analysts are predicting significant moves for XRP. Specifically, crypto analyst Jonathan Carter recently predicted that XRP could rise to $0.93 and further to $1.68. There is also the feeling that a rally is long overdue for XRP and could be anytime soon. 

When The XRP Rally Could Come

An XRP rally could be on the horizon with the legal battle between the Securities and Exchange Commission (SEC) and Ripple almost coming to an end, with a ruling expected soon enough. Crypto analyst JackTheRippler predicted that the crypto token could rise to as high as $100 once this case ends. 

While this price level is undoubtedly ambitious, XRP could still make a significant move to the upside, considering that it also enjoyed an upward trend on the back of Judge Analisa Torres’ ruling that the crypto token wasn’t a security. 

At the time of writing, XRP is trading at around $0.51, down in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com

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XRP Price Prediction – Can 100 SMA Trigger Another Steady Increase

XRP price is correcting gains from the $0.570 resistance. The price is stable above the $0.5240 support and might aim for a fresh increase in the near term.

  • XRP started a decent increase and climbed above the $0.550 resistance.
  • The price is now trading above $0.5250 and the 100 simple moving average (4 hours).
  • There is a key bullish trend line forming with support at $0.5320 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair could start another increase if the bulls defend the $0.5240 support.

XRP Price Holds Support

Recently, XRP price started a decent increase above the $0.5250 resistance zone. The bulls even pushed the price above the $0.550 resistance zone before the bears appeared.

A high was formed at $0.5699 before there was a pullback like Bitcoin and Ethereum. The price dipped below the $0.550 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $0.4787 swing low to the $0.5699 high.

However, the price is now stable above $0.5250 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $0.5320 on the 4-hour chart of the XRP/USD pair.

XRP Price Prediction

Source: XRPUSD on TradingView.com

Immediate resistance is near the $0.5480 level. The first key resistance is near $0.570. A close above the $0.570 resistance zone could spark a strong increase. The next key resistance is near $0.5850. If the bulls remain in action above the $0.5850 resistance level, there could be a rally toward the $0.620 resistance. Any more gains might send the price toward the $0.680 resistance.

More Losses?

If XRP fails to clear the $0.5480 resistance zone, it could start another decline. Initial support on the downside is near the $0.5320 level and the trend line.

The next major support is at $0.5240 and the 100 simple moving average (4 hours). If there is a downside break and a close below the $0.5240 level, the price might accelerate lower. In the stated case, the price could retest the $0.50 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.5320, $0.5240, and $0.500.

Major Resistance Levels – $0.5480, $0.570, and $0.600.

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Ripple Unlocks 1 Billion XRP From Escrow – How Will This Impact Price?

On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of manipulating the token’s price. 

Ripple Unlocks 500 Million XRP Tokens

Onchain data revealed 500 million XRP tokens were unlocked from Ripple’s escrow on May 1. The crypto firm is known to unlock 1 billion tokens monthly, although it looks to have only unlocked half this time around. The magnitude of these tokens always raises concerns, considering the negative impact they could have on the altcoin’s price if dumped on the market. 

Further analysis of the on-chain data shows that Ripple sent 300 million XRP out of the unlocked tokens to an escrowed account (2Not4co2op). Meanwhile, the crypto firm sent the remaining 200 million XRP tokens to another wallet (4vt5x1o91m). Considering that the 200 million XRP tokens weren’t sent to escrow, Ripple may have plans to sell them at some point, although it has yet to do so. 

It is also worth mentioning that Ripple received another 500 million XRP tokens from an unknown wallet (ymFZmKxEsF). However, these funds were immediately sent to an escrow account. As such, the community can heave a sigh of relief since most of the XRP tokens Ripple received in the last 24 hours have been sent back to escrow. 

Talks About Ripple Dumping On The Market Resurface

Following the latest token unlock, the crypto community has reignited talks about Ripple’s alleged dumping on XRP holders. The question of whether or not Ripple’s XRP sales influence the token’s price has been a long-standing discussion, with notable figures like pro-XRP crypto YouTuber Jerry Hall even accusing Ripple of intentionally suppressing the altcoin’s price with its sales. 

On the other hand, people like Ripple’s Chief Technology Officer (CTO) have clarified that the crypto firm’s XRP sales do not impact the crypto token’s price. Moreover, Ripple already discontinued programmatic sales, which means that its transactions cannot affect prices on crypto exchanges. 

Ripple also noted in its recent court filing in its ongoing legal battle against the Securities and Exchange Commission (SEC) that it had taken measures to ensure its institutional sales did not violate securities laws. This suggests that Ripple conducts its sales over the counter (OTC) to avoid further scrutiny from the Commission. 

At the time of writing, the token is trading at around $0.5, up over 2% in the last 24 hours according to data from CoinMarketCap. 

XRP price chart from Tradingview.com (Ripple)

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XRP Price Prediction – Will Bearish Trend Push Prices Under $0.50?

XRP price is struggling to recover above the $0.520 resistance. The price could gain bearish momentum if it breaks the $0.50 support.

  • XRP is attempting a fresh increase and facing hurdles near $0.520.
  • The price is now trading near $0.5150 and the 100 simple moving average (4 hours).
  • There is a major bearish trend line forming with resistance at $0.520 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair could gain bullish momentum if there is a close above the $0.520 resistance.

XRP Price Aims Upside Break

Recently, XRP price climbed above the $0.550 resistance and tested $0.570. A high was formed at $0.5705 before there was a pullback like Bitcoin and Ethereum. The price dipped below the $0.5250 support zone.

It even spiked below $0.500 and tested $0.4980. A low was formed at $0.4990 and the price is now consolidating near the 23.6% Fib retracement level of the downward move from the $0.5705 swing high to the $0.4990 low. It also trades near $0.5150 and the 100 simple moving average (4 hours).

Immediate resistance is near the $0.520 level. There is also a major bearish trend line forming with resistance at $0.520 on the 4-hour chart of the XRP/USD pair.

XRP Price Prediction

Source: XRPUSD on TradingView.com

The next key resistance is near $0.5350 or the 50% Fib retracement level of the downward move from the $0.5705 swing high to the $0.4990 low. A close above the $0.5350 resistance zone could spark a strong increase. The next key resistance is near $0.570. If the bulls remain in action above the $0.570 resistance level, there could be a rally toward the $0.620 resistance. Any more gains might send the price toward the $0.680 resistance.

More Losses?

If XRP fails to clear the $0.520 resistance zone, it could start another decline. Initial support on the downside is near the $0.500 level.

The next major support is at $0.490. If there is a downside break and a close below the $0.490 level, the price might accelerate lower. In the stated case, the price could retest the $0.460 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now near the 50 level.

Major Support Levels – $0.500, $0.4990, and $0.460.

Major Resistance Levels – $0.520, $0.5350, and $0.570.

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ETH Gate Conversation Intensifies After Ripple CTO And Cardano Founder Debate

Over the weekend, the conversation about the ETH Gate theories started again after the news of the Consensys lawsuit against the US Securities and Exchange Commission (SEC). The discussion intensified following the Ripple CTO David Schwartz and Cardano Founder Charles Hoskinson’s debate on X.

Is There A Double Standard For Ethereum?

On Thursday, crypto firm Consensys sued the US SEC, accusing the regulator of “unlawful seizure of authority” over Ethereum. Following the news, an online conversation sparked regarding the SEC’s alleged favoring of the second-largest cryptocurrency by market capitalization.

X users commented on crypto exchanges’ “double standard.” Many pointed out platforms like Binance, Coinbase, Crypto.com, and Bitstamp delisted XRP after the SEC’s crackdown on Ripple.

Moreover, members of the crypto community also asked for ETH’s delisting. One user stated that if the crypto asset “doesn’t get delisted, we know #ETHGate is real.”

The theories about the SEC attacking Ripple and XRP in favor of Ethereum are part of an ongoing saga that has raised concerns and speculation over the agency’s regulatory inconsistency.

Last year, lawyer and crypto expert Jeremy Hogan weighed in on the publication of Hinman’s emails and drafts from his 2018 speech. Hogan alleged that the former SEC’s Division of Corporation Finance director was likely paid by someone related to the Ethereum Foundation to give a speech giving ETH a “free pass.”

Ripple CTO Questions Hoskinson’s ETH Gate Stand

Charles Hoskinson stated that an apology from the XRP army and Ripple executives was needed before a project collaboration. Hoskinson alleged during a recent X Space meeting that XRP’s community has attacked him daily since 2022.

Following the session, members of the XRP army cursed him out and declared he was wrong. Hoskinson replied, seemingly trying to prove his point, alleging the hate “It’s never-ending and completely devoid of reason.”

Jack, a prominent figure in the XRP community, argued that platforming those who attacked Hoskinson would not help the situation. Cardano’s founder then corrected someone, claiming he “misspoke” and “mischaracterized” the community’s allegations.

Hoskinson clarified he didn’t misspeak, as people believe “members of the Ethereum community bribed the SEC to take out XRP.” According to him, this narrative has reignited several times with “no evidence of it.”

Ripple’s CTO joined the discussion, questioning Hoskinson over his claims of lack of evidence. Schwartz stated: “So, was Hinman not intimately involved? Did he not have a financial interest in Ethereum? Did he recuse himself? Or is that not evidence for some reason?”

To Hoskinson, Schwartz was “inciting a mob by spreading false information.” He also denied invalidating the ETH Gate arguments, claiming his “grand conspiracy statements have always been related to the belief that somebody from Ethereum bribed the SEC to go after XRP.”

The back-and-forth between the two crypto gurus ended with Ripple’s CTO further doubling down on his questions. He asked whether Hoskinson didn’t think any of his statements were evidence that Hinman’s interests influenced and affected the litigation against Ripple, which received no reply.

Ripple, XRP, XRPUSDT

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XRP Price Prediction: Analyst Says Prepare For 700% Jump To $4, Here’s When

The bullish predictions for the XRP price are back, even with the bulls struggling to push the crypto on a price surge. EGRAG, a cryptocurrency expert, has made one of these positive forecasts, which is that there will be a price spike of tremendous magnitude. According to the analyst’s recent post on social media, XRP could reach the $4 price level over the long term. 

Crypto Analyst Predicts 700% Bullish XRP Price Action

XRP has experienced a small decline in value over the past few days as the entire crypto market consolidates in price action. XRP’s price movement this year has largely left many of its fervent enthusiasts feeling disappointed, particularly considering the fact that it is yet to reach the $1 mark as predicted by many analysts. 

Data from Coinmarketcap shows XRP now finds itself bouncing around at the $0.51 price mark after retesting the $0.435 on April 13. However, according to EGRAG, this is poised to change soon.

EGRAG, known for this very bullish stance on XRP, recently noted in his analysis that the current XRP price movement mimics the 2021 move which saw it breaking as high as $1.8. According to his analysis, EGRAG divided the price outlook into two sections blue and yellow, each depicting mirror images of 2021 price movement. 

The blue section is more of a narrow price trajectory which suggests that XRP could reach $1.4 by June or July, with a price range between $1.2 to $1.8. Meanwhile, the yellow section is a more bullish price trajectory. According to the analyst, XRP could reach the $4 price level by June or July if it follows the yellow section of 2021’s movement. Interestingly, a surge to the $4 price level would put the price of XRP at a new all-time high.

What’s Next For XRP?

EGRAG is one of the many crypto analysts who are still bullish on XRP’s price trajectory. His long-term price projection for XRP is $27, which he believes is still viable. At the time of writing, XRP is trading at $0.5148, down by 16.8% in the past 30 days.

This means in order to reach $4 in July, the bulls will have to push the crypto on a 677% increase in less than three months. Although the volatile nature of cryptocurrencies suggests this price run is possible, current market dynamics point to modest XRP price gains at best. 

On the other hand, on-chain metrics have revealed that a bullish sentiment might be returning to XRP. Notably, the amount of XRP wallets holding at least 1 million coins has been surging recently, which could be a signal of a coming price surge. 

XRP price chart from Tradingview.com

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XRP Price Ready For 70% Breakout As Long-Term Consolidation Nears Its End

The XRP price has seen some level of recovery over the last two days that has seen positive sentiment returning to the latocin once again. This has carried forward with the expectation that the price will continue to surge. One crypto analyst in particular, who goes by RLinda, has revealed why the cryptocurrency is set to surge 70%.

XRP Price Completes A False Breakdown

In the analysis that was posted on the TradingView website, crypto analyst RLinda outlined a number of reasons why the XRP price may be getting ready for a surge. One of these reasons is the fact that the altcoin has completed a false breakdown.

This is referring to the price crash that sent the price falling from $0.7 to $0.42, recording an almost 50% crash. However, the crypto analyst believes that this crash was bullish for the coin as it was basically a false breakdown, followed by a breakout.

In scenarios such as this, the XRP price could be headed for a breakout similar to the breakdown and eventual recovery between August and November 2023. Such a case could see the price rise 50% with a higher end of 70%.

XRP price chart from Tradingview.com

Additionally, the XRP price has also been in long term consolidation, another factor that could contribute to this breakout. “XRPUSDT is forming a technical false break of support, in the long term consolidation above the zone should be formed with the purpose of continuation of growth, the potential of which can be opened by 50-70%,” the analyst stated.

The State Of XRP

XRP has already seen investors returning once it was clear the worst of the crash. Crypto whales, in particular, have been making their bets, moving 600 million XRP tokens. As NewsBTC reported, whales holding between 10 million and 100 million XRP increased their holdings by 30 million in just one week. But even more interesting is the fact that they have moved up to 600 million tokens in the space of two weeks.

These moves come ahead of crypto analysts prediction major upside for the cryptocurrency. One of those is crypto analyst Egrag Crypto who predicted that the XRP price is ready to spike as high as $1.4. This would mean an over 100% increase in price.

However, XRP has not exactly been the market favorite in recent times. Its daily trading volume has seen a notable decline, with Coinmarketcap reporting a 20% drop to $1.33 billion in the last day. Nevertheless, the altcoin remains the 7th-largest in the space, with a market cap of $30.3 billion.

XRP price chart from Tradingview.com

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Analyst Singles Out VeChain And XRP For Parabolic Surge, Here Are The Targets

Crypto analyst Egrag Crypto has singled out VeChain (VET) and XRP as two crypto tokens that could soon witness significant price surges. The analyst also outlined price targets crypto investors can expect these tokens to attain.

VeChain Could Rise To As High As $2.5

From the chart Egrag shared in his X (formerly Twitter) post, one could see that he was hinting that VeChain hit $2.5 at its market peak. He also elaborated on how the crypto token will rise to that level by breaking its price action into three targets. The first target was the yellow channel, which he highlighted on the chart. 

VeChain

VeChain is expected to rise to as high as $0.18 when this target is fully achieved. Egrag noted that this will mark the “forging of the MACRO-Bottom.” The second target will see the crypto token rise to almost $0.9. The analyst pointed out that this channel “aligns with the Fib 0.702 & 0.786 levels,” forming what he referred to as the “Mid-Bull-Cycle.”

VeChain is expected to rise to as high as $2.5 when the last target is achieved. Egrag remarked that this target aligns with “key Fib levels 1.236, 1.414, & 1.618, suggesting the potential cycle top for #VET.” This isn’t the first time the crypto analyst has laid a bullish narrative for the VeChain token. 

In February, he predicted that the crypto token could witness a 140x price increase if it repeats its price action from around 2021 when it rose by 14.638%. 

XRP Run To $1.4 Still In Play

Egrag provided his bullish analysis of XRP in a separate X post. He stated that the crypto token’s double formation was giving a “strong bullish signal.” He added that he is confident that the “thrust will soon.” This recent analysis was an update to a previous one where he predicted that XRP would rise to $1.4 soon enough. 

XRP

 Back then, he was also confident that this move to the upside was imminent, noting that the bulls had accumulated all the XRP tokens that the bears had dumped. He urged XRP holders to “stay steady” in anticipation of the life-changing opportunities that may arise due to the crypto token’s parabolic surge. 

Egrag has remained bullish on the XRP token despite its unimpressive price action. He has predicted at different times that the crypto token could rise to as high as $27 at its market top. 

At the time of writing, XRP is trading at around $0.54, up in the last 24 hours, according to data from CoinMarketCap.

VET price chart from Tradingview.com

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XRP Price Reclaims $0.50 and Indicators Suggest Fresh Surge To $0.70

XRP price is recovering higher above the $0.500 resistance. The price is signaling a positive bias and might rally above the $0.580 and $0.600 levels.

  • XRP is attempting a recovery wave above the $0.50 zone.
  • The price is now trading above $0.5150 and the 100 simple moving average (4 hours).
  • There was a break above a key bearish trend line with resistance at $0.5220 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair could gain bullish momentum if there is a close above the $0.580 resistance.

XRP Price Aims Higher

After a sharp decline, XRP price found support near the $0.3880 zone. It formed a base and started a fresh increase above the $0.450 resistance, like Bitcoin and Ethereum. The bulls were able to push the price above the $0.50 resistance.

The price climbed above the 50% Fib retracement level of the downward move from the $0.6420 swing high to the $0.3875 low. Besides, there was a break above a key bearish trend line with resistance at $0.5220 on the 4-hour chart of the XRP/USD pair.

The price is now trading above $0.5150 and the 100 simple moving average (4 hours). Immediate resistance is near the $0.5650 level. The next key resistance is near $0.5820 or the 76.4% Fib retracement level of the downward move from the $0.6420 swing high to the $0.3875 low.

XRP Price

Source: XRPUSD on TradingView.com

A close above the $0.5820 resistance zone could spark a strong increase. The next key resistance is near $0.620. If the bulls remain in action above the $0.620 resistance level, there could be a rally toward the $0.680 resistance. Any more gains might send the price toward the $0.700 resistance.

Another Drop?

If XRP fails to clear the $0.5820 resistance zone, it could start another decline. Initial support on the downside is near the $0.540 level.

The next major support is at $0.5150. If there is a downside break and a close below the $0.5150 level, the price might accelerate lower. In the stated case, the price could retest the $0.4650 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.540, $0.5150, and $0.4650.

Major Resistance Levels – $0.5650, $0.5820, and $0.6200.

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XRP Surges 12% As Bulls Take Charge, Expert Raises Target To $1.4

XRP has shown notable signs of renewed bullish momentum in the market. It bounced back from a significant 11% price drop on April 12th, which took the token to its lowest level of the year at $0.4230. 

However, last week saw a solid 12% price recovery, with XRP outperforming the other top 10 altcoins in the market, behind only Solana (SOL) and Binance Coin (BNB). 

Signs Of A Strong Bullish Trend Ahead For XRP? 

On Tuesday, XRP hit a high of $0.5571, demonstrating its bullishness and outperforming its peers. This resurgence was paired with a spike in wallet activity, a positive sign for the token’s overall market sentiment. 

According to the network intelligence platform Santiment, the number of wallets holding at least 1 million XRP has steadily increased over the past six weeks, rising by 3.1%. It is now just one wallet away from reaching an all-time high (ATH).

XRP

In addition, crypto analyst Ali Martinez reported a notable buying spree among XRP whales, who purchased over 31 million tokens in the past week alone. This has contributed to the cryptocurrency’s price recovery, emphasizing renewed confidence in its uptrend prospects.

Regarding price action, market analyst Egrag Crypto points out that XRP has formed a double bottom pattern, considered a strong bullish signal. This pattern, combined with the transition of the consolidation zone into a supply zone and the wicking area into a demand and accumulation zone, indicates a promising outlook for the token, according to the analyst. 

Egrag Crypto is confident that a significant price spike or “thrust” is imminent, and the analyst has updated his target to $1.4 for XRP. 

Critical Resistance Levels To Watch 

Despite initial bullish outlooks for XRP, the token has retraced to the $0.5474 price level as of the time of writing, accompanied by a 14% decrease in market capitalization over the past 30 days.

Moreover, as XRP aims to reach higher levels, potential resistance barriers may impede the token’s recovery and the bullish trend. Analyzing the XRP/USD chart below reveals the immediate resistance at $0.5644, which has prevented consolidation above current levels for the past week.

XRP

After that, the final obstacle before a retest of the $0.600 zone lies at the $0.5884 level. This level previously served as a support floor for the token, leading to a rebound during the uptrend seen in March, which took XRP to its yearly high of $0.745.

Conversely, monitoring the support levels at $0.52910, $0.5184, and $0.5044 is crucial. If a bearish scenario develops in the coming days, these levels may prevent XRP from falling below $0.500.

Featured image from Shutterstock, chart from TradingView.com

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Analyst Says XRP Price Will Reach $100, But This Needs To Happen First

Crypto analyst JackTheRippler has raised the possibility of the XRP price rising to $100 soon enough. As part of his prediction, he mentioned what needs to happen for the crypto token to attain such ambitious heights. 

How XRP Price Could Rise To $100

JackTheRippler suggested in an X(formerly Twitter) post that the XRP price hitting $100 was “inevitable” once the case between the Securities and Exchange Commission (SEC) and Ripple came to an end. Furthermore, he predicted that XRP could rise to as high as $10,000, claiming that the crypto token hitting five figures was achievable after the lawsuit.

Related Reading: Brazil Wants BTC: 7,400 Bitcoin Futures Contracts Created On First Day Of Trading

The analyst’s remarks again highlight the belief among members of the XRP community that the SEC’s lawsuit against Ripple has greatly hindered XRP’s growth. Specifically, the lawsuit is believed to be why XRP underperformed in the 2021 bull run, having made remarkable strides in the 2017 bull run (long before the lawsuit was instituted). 

Meanwhile, in his remarks, JackTheRippler alluded to XRP gaining regulatory clarity once the case between the SEC and Ripple was over. This statement caught the attention of some of his followers, who pointed out that it had gotten clarity following Judge Analisa Torres’ ruling that XRP isn’t a security. 

Interestingly, XRP has failed to mount any significant run despite gaining this clarity last year. This is one reason why some XRP holders seem to have lost faith in the crypto token, as expectations were high following Judge Torres’ ruling. However, nothing much happened as the crypto token briefly rose on the back of the ruling but steadily declined in the following weeks. 

Therefore, these holders will likely be cautious about getting their hopes high despite JackTheRippler’s optimism since XRP could still maintain its unimpressive price action even after the SEC’s lawsuit is over. 

The SEC’s Lawsuit May Not Be Ending Anytime Soon

Meanwhile, it is worth noting that the case between the SEC and Ripple could even drag on beyond this year, irrespective of the outcome of the penalties stage, as both parties are likely to appeal certain rulings. This means that XRP holders might have to wait a while to see if the crypto token hits $100 based on JackTheRippler’s prediction. 

If the case is prolonged beyond this year, XRP could miss out on achieving its true potential in this bull run if the lawsuit is indeed acting as a stumbling block to its progress. The lawsuit has, however, not stopped crypto analysts like Egrag Crypto from making bullish predictions for XRP in this bull run. He predicts the crypto token could rise to as high as $27 at this market peak. 

At the time of writing, XRP is trading at around $0.54, up over 2% in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com (Ripple crypto analyst)

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XRP Wallets Holding At Least 1 Million Coins Nears All-Time High As Sentiment Improves

With the crypto market on the rise once again, XRP has seen positive headwinds and this has triggered an improvement in sentiment among investors. This positive recovery has seen more crypto investors move to acquire the altcoin, pushing a very important holder cohort toward new all-time high levels.

Wallets Holding More Than 1 Million XRP Nears ATH

Over the last year, there has been a lot of selling among XRP investors as the price continued to struggle. This poor performance continued despite Ripple securing multiple partial victories against the United States Securities and Exchange Commission (SEC), prompting investors to jump ship.

One XRP holder cohort that witnessed a lot of selling is the addresses holding at least 1 million XRP tokens. At current prices, it would mean that these wallets are holding at least $500,000 on the lower end of the cohort, making this the cohort that includes the dolphins and whales.

The number of addresses holding at least 1 million tokens had hit its all-time high back in June 2023. But with the price falling, these large holders began to sell, and at one point, the number of wallets sat around 50 wallets below its all-time high of 2,014.

However, with the crypto market moving toward another bull market, expectations are that the price of XRP will follow the rest of the market, prompting large investors to return. Data from Santiment, an on-chain data aggregation platform, shows that over the course of 2024, the number of wallets holding 1 million tokens or more rose steadily and by April, this figure is now sitting at 2,013, one wallet away from reaching its previous all-time high, and two wallets away from setting a new record.

Why Are Large Investors Returning?

One reason why large investors are returning to XRP could be that the indicators are finally turning bullish for the altcoin. There was also an opportunity for these investors to buy the tokens for cheap when the market crashed and altcoins like XRP suffered almost 40% losses.

Related Reading: 3 Major Metrics To Watch Out For That Can Impact Ethereum Prices

Popular crypto analyst TonyTheBull took to X (formerly Twitter) to reveal the significance of this price crash. According to the analyst, it was the final capitulation shakeout for the altcoin. Comparing it to a similar shakeout in 2017 shows that after this, XRP could go on a massive rally.

The large investors could be expecting this rally as well, hence, why they have been buying up large amounts of coins. If the 2017 rally is anything to go by, then the XRP price could quickly barrel through $1, printing significant returns for investors.

XRP price chart from Tradingview.com

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Ripple Vs. SEC Update: Is The Lawsuit Finally Coming To An End With A Settlement?

The legal battle between Ripple and the Securities and Exchange Commission (SEC) is getting heated and, following recent developments, looks far from over. This is due to the disagreement between both parties on the appropriate remedy for Ripple’s violation of securities laws. 

Ripple Proposes $10 Million Fine Instead

In opposition to the SEC’s motion for remedies and entry of final judgment, Ripple has proposed that the court should not impose a civil penalty of not more than $10 million. This figure represents a far cry from the SEC’s proposed judgment. The Commission had earlier asked the court to order Ripple to pay the sum of $1,950,768,364 as a pecuniary fine for violations relating to its institutional XRP sales.

Specifically, the SEC proposed that Ripple pay a civil penalty of $876,308,712 alongside a prejudgment interest of $198,150,940 and disgorgement of $876,308,712, which represents the profits from its violation of the Securities Act. However, Ripple asked the court to deny the requests for disgorgement and pre-judgment interest and only focus on the civil penalty, which shouldn’t be more than $10 million. 

Ripple’s lawyers also laid out arguments as to why the civil penalty should not exceed $10 million. Firstly, they stated that the first tier of the statutory maximum penalties is what applies to this case “because the SEC has never alleged fraud, deceit, or manipulation and has failed in its belated attempt to show that Ripple recklessly disregarded the law.”

Therefore, Ripple argued that the Commission’s request for a civil penalty of over $876 million isn’t the appropriate remedy for the first-tier structure. They added that the company’s revenue from pre-complaint institutional sales should be the only earnings considered when deciding on a remedy, which makes a civil penalty of not more than $10 million more appropriate. 

Accounting Error From The SEC

Ripple suggested that the SEC made an error in calculating the company’s earnings while deciding on the right amount for which the crypto firm should be fined. According to the company’s lawyers, the Commission failed to “analyze or even consider any other categories of Ripple’s expenses.”

Meanwhile, they allege that the SEC didn’t offer any evidence or explanation “for why cost if revenue is the only category of Ripple’s deductible expenses.” Simply put, Ripple argues that the regulator, while calculating Ripple’s earnings, didn’t consider how much the company expended before deciding that almost $2 billion was an appropriate fine. 

Ripple’s lawyers made this argument while stating that the SEC also erred in relying on the declaration of Andrea Fox, an accountant at the agency. They claim that the SEC never disclosed Fox as a fact or expert witness and that she wasn’t deposed during the initial discovery or supplemental remedies discovery. Therefore, they moved to strike her declaration as an “untimely disclosed expert report.”

Ripple Also Opposes SEC’s Proposed Injunction

As part of its entry for final judgment, the SEC had asked the court to “permanently” restrain and enjoin Ripple from “directly or indirectly conducting an unregistered offering of Institutional Sales.” Understanding how this could affect their ODL transactions, Ripple has asked the court to deny the request for an injunction. 

The crypto firm argues that the Commission has failed to show why an injunction is warranted. Injunctions are usually granted when there is a fear of future violations. Ripple claims that the SEC has failed to show a “reasonable likelihood of future violations.” 

The crypto firm’s lawyers further revealed that Ripple has “changed the way it sells XRP and changed its contracts to avoid any future violations.” To show good faith, they submitted a declaration by Ripple’s President, Monica Long, which describes the steps the company has taken to avoid future violations. 

XRP price chart from Tradingview.com (Ripple vs. SEC)

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Ripple CEO Walks Back $5 Trillion Crypto Marker Prediction, Unveils New Target

The Chief Executive Officer (CEO) of Ripple, Brad Garlinghouse, has revised his earlier ambitious prediction on the crypto industry’s future market capitalization, acknowledging that he had underestimated the market’s potential surge. 

Ripple CEO Underpredicts Crypto Market Cap

Appearing in a recent interview with Fox Business, Garlinghouse shed light on the growth potential of the cryptocurrency market as well as its performance since the beginning of the year. 

The Ripple CEO was questioned about his previous optimistic forecast for the crypto industry’s market capitalization, in which he projected that the market cap would double to approximately $5 trillion by the end of the year. According to CoinMarketCap, the current global cryptocurrency market capitalization stands at roughly around $2.25 trillion. 

In response to the inquiry, Garlinghouse expressed his belief that his previous predictions were not overly ambitious, emphasizing the market’s potential for further growth. He admitted to underpredicting the industry’s potential market capitalization by the end of 2024, citing factors such as the current supply and demand dynamics driving additional increases. 

Garlinghouse noted that the current market conditions are characterized by increased demand and reduced supply, with these dynamics playing a significant role in the performance of cryptocurrencies. 

He disclosed that the Spot Bitcoin ETF market and the overall sentiment regarding Bitcoin’s value have significantly boosted demand for the cryptocurrency. Meanwhile, Bitcoin’s supply is diminishing due to the increasing number of large-scale investors purchasing the cryptocurrency rapidly. Additionally, the impending Bitcoin halving event is expected to further decrease the cryptocurrency’s supply. 

Assessing the current state of the crypto market, Garlinghouse stated that since the last six months, Bitcoin has been up by more than 250%, with further increases anticipated. He also asserted that this overperformance was largely driven by the approval and launch of Spot Bitcoin ETFs as well as the upcoming Bitcoin halving. 

Regulations Are Vital For Market Development

Garlinghouse has disclosed that establishing proper regulatory frameworks for the cryptocurrency market would yield positive outcomes for the market in the future. 

He explained that one of the primary factors hindering the growth of this evolving market was the United State’s prevailing anti-crypto stance, suggesting that the country’s enforcement actions on the developing industry were “problematic.”

The Ripple CEO highlighted several countries, including Dubai, Singapore and the United Kingdom, which have been proactively embracing cryptocurrencies and implementing proper regulatory systems to foster further growth in the market. 

Garlinghouse has asserted that the US has significantly lagged in recognizing the transformative and innovative impact of the cryptocurrency market, attributing this setback to the United States Securities and Exchange Commission (SEC) and its current Chair, Gary Gensler.

Crypto total market cap from Tradingview.com (Ripple CEO)