The ripple effects of the ongoing legal tussle between Ripple and the Securities and Exchange Commission (SEC) significantly impact the value of the XRP cryptocurrency.
At present, there are three main elements that shape the speculative narratives revolving around XRP:
i) The content of the Hinman emails
ii) William Hinman’s 2018 speech on Ethereum
iii) The Regulator’s classification of XRP as a security
Crypto Expert Predicts Promising XRP Price Spike
Thomas Kralow, a crypto hedge fund manager at Kralow Capital, predicts a surge in te XRP price within the next quarter due to the aforementioned factors. Kralow’s predictions align with an increasing interest in XRP among crypto enthusiasts. Google Trends data reveals that global searches for XRP doubled in the previous month, hinting at a rising curiosity among digital traders.
Read More: Ripple News: Will XRP Price Hit $0.56 Level This Weekend?
Kralow estimates that these speculations could catalyze a remarkable price escalation for XRP in the coming months. The values, he suggests, could range from $10 to $30, which would be a monumental leap from its current value of $0.483.
The Need for a Bullish Comeback
As of now, the XRP coin has seen a minor increase of 0.9% in the past day. It dipped below the 50-day Simple Moving Average (SMA) of $0.47 on June 14 and 15, although it did not close under this mark.
If the price consistently remains below the 50-day SMA, the coin might plunge further to $0.41. For a bullish resurgence, the XRP price needs to swiftly rise above the 20-day Exponential Moving Average (EMA), and then target to break the overhead resistance at $0.55.
Impact On The Crypto Markets
The wider cryptocurrency community anticipates a favorable outcome for Ripple in the SEC lawsuit. If this happens, Ripple would be able to continue its operations unhindered, and XRP could regain listings on various exchanges. A $2 price tag by year-end isn’t inconceivable either, especially if the overall crypto market recovers its bullish momentum.
