- XRP is struggling below $2.40, with $2.30 as the key level to watch.
- Whale selling of 60 million XRP has contributed to negative market sentiment.
- Legal experts predict the Ripple vs. SEC case could be resolved by May.
Ripple’s XRP is stuck below the critical $2.40 level, a price point it has struggled to surpass. Despite CEO Brad Garlinghouse’s recent meeting with former President Donald Trump, XRP has not seen the same boost it did in the past linked to such events.
Legal experts like Jeremy Hogan predict that the ongoing lawsuit could conclude by May, leaving XRP’s future to hinge on the outcome of the battle between bulls and bears.
Whales Sell 60 Million XRP
Whales have offloaded 60 million XRP in the last 24 hours, contributing to the current negative market sentiment. XRP is currently hovering around $2.35, struggling to hold this region.
While it has faced resistance at $2.40, the key level to watch is $2.30. As long as this level holds, there is still a chance for XRP to rise to $2.60 and potentially reach $3. However, if $2.30 breaks, there are two support levels below—$2.15 and $1.90.
What’s Next For XRP? (Long Term)
Analyst Crypto Bull predicts that XRP could reach over $20 in this bull cycle, with a rise to $13 in the next few weeks. This forecast is based on Elliot Impulse Waves, which track big breakouts.
In 2017, XRP jumped 70,000%, from $0.002 to $3.84. This time, the analyst expects a 6,000% gain, taking XRP from $0.50 to $26. Waves 1 and 2 are complete, and wave 3 should push the price to $13, before a drop to $2.60 in wave 4. The final Wave 5 could see XRP reaching $20 or higher.
What’s Next for XRP on January 15?
Attorney Jeremy Hogan addressed the January 15 SEC filing deadline in the Ripple v. SEC case. He said not to be surprised if the SEC files on time and not to worry too much.
Hogan added that this filing won’t have much effect on whether the case gets settled (which he thinks is likely) or dismissed by the new administration. With the current SEC Chair Gary Gensler stepping down on January 20, experts ponder whether his last move could hurt the Ripple case.
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