XRP Price Bull Run: The CEO of Ripple Brad Garlinghouse has criticized the Securities and Exchange Commission (SEC), saying that the agency has lost multiple lawsuits with&nbsp;<a href="https://coingape.com/is-xrp-etf-next-ripple-ceo-share-key-details/" rel="noopener noreferrer nofollow">Ripple</a>&nbsp;winning the majority of the core issues in the ongoing court battle.
Garlinghouse’s comments come after the successful rollout of&nbsp;<a href="https://coingape.com/bitcoin-etf-blackrock-ibit-grayscale-gbtc-plunge-pre-market-after-weak-inflow/" rel="noopener noreferrer nofollow">Bitcoin ETFs</a>&nbsp;in the US.
XRP price continues with the retreat from February’s peak at $0.58, down more than 5% on the day to $0.538.
<h2 class="p1" id="garlinghouse-defends-ripple-ignites-buzz-on-potential-etf">Garlinghouse Defends Ripple, Ignites Buzz On Potential ETF</h2>
Ripple partially won the lawsuit against the&nbsp;<a href="https://coingape.com/ripple-vs-sec-pro-xrp-lawyer-expects-heated-clash-centering-odl-sales/" rel="noopener noreferrer nofollow">SEC</a>&nbsp;in July, when Judge Analisa Torres ruled that XRP is not to be considered a security, particularly in the secondary market.
According to Garlinghouse who was speaking in an interview at Bloomberg TV, the SEC has a history of losing cases, highlighting Coinbase, Ripple, and Grayscale.
In a swift turn of events, the Ripple executive welcomed the idea of a Ripple ETF, implying that it is possible, especially with the first spot Bitcoin ETFs trading in the US.
The shift to a Ripple ETF caught the crypto community’s attention, which has been mulling over the possibility of a spot <a href="https://coingape.com/spot-ethereum-etf-how-will-bitcoin-aid-in-ethereum-price-rally/" rel="noopener noreferrer nofollow">Ethereum ETF</a>. Garlinghouse also talked about the need to spearhead crypto regulation.
Recommended: <a href="https://coingape.com/markets/5-meme-coin-altcoins-to-buy-tech-savvy-investors-turn-to-eth-sol/" target="_blank" rel="noopener noreferrer nofollow">5 Meme Coin Altcoins To Buy: Tech-Savvy Investors Turn To ETH, SOL</a>
<h2 class="p1" id="xrp-price-prediction-are-traders-ready-to-buy-the-dip">XRP Price Prediction: Are Traders Ready To Buy The Dip</h2>
XRP price sustained an uptrend before last week, topping at $0.58 on Friday. The cross-border money remittance token experienced the first flash drop to $0.54 but due to the support highlighted by the 50-day Exponential Moving Average (EMA), it rebounded, albeit briefly to $0.5735.
As&nbsp;<a href="https://coingape.com/ether-eth-to-outperform-bitcoin-btc-in-coming-months-bloomberg/" rel="noopener noreferrer nofollow">Bitcoin</a>&nbsp;stalled due to an important resistance at $53,000 this week, XRP price fell victim to another sell-off round such that it is testing the same support at $0.54 toward the end of the European session on Wednesday.
Intraday traders would be on the lookout for acceptance above the dotted trendline, which coincides with the 200-day EMA (the purple line on the chart) to confirm the beginning of another trend reversal.
<figure id="attachment_181766" aria-describedby="caption-attachment-181766" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-181766" src="https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11.png" alt="XRP price prediction" width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11.png 2710w, https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2024/02/XRPUSD_2024-02-21_15-32-11-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
 <figcaption id="caption-attachment-181766" class="wp-caption-text">
 XRP price chart | Tradingview
 </figcaption>
</figure>
The sell signal in the Moving Average Convergence Divergence (MACD) indicator warns against scooping the current dips, at least until the 200-day EMA resistance is flipped.
However, if more traders choose to dwell on shorting XRP, a drop to the lower trendline impends.
Long-term holders may find this drop to $0.54, $0.52 (the lower trend line), and even to $0.5, a chance to dollar-cost average backed by the possibility of Ripple winning the lawsuit and an ETF after that.
<h3 class="p1" id="related-articles">Related Articles</h3>
<ul>
 <li><a href="https://coingape.com/cardano-ada-is-dog-shit-bitmex-founder-arthur-hayes/" rel="noopener noreferrer nofollow">Cardano (ADA) Is ‘Dog Shit’- BitMex CEO Arthur Hayes</a></li>
 <li><a href="https://coingape.com/bitcoin-price-btc-heading-10-correction-next-3-days/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Price: Is BTC Heading For A 10% Correction In Next 3 Days?</a></li>
 <li><a href="https://coingape.com/crypto-super-pac-fairshake-amass-85-million-for-us-elections-2024/" target="_blank" rel="noopener noreferrer nofollow">Crypto Super PAC Fairshake Amass $85 Million for US Elections 2024</a></li>
</ul>
The post <a href="https://coingape.com/markets/xrp-price-prediction-key-factors-driving-xrp-bull-run-including-etf-and-ripple-v-sec/" rel="noopener noreferrer nofollow">XRP Price Prediction: Key Factors Driving XRP Bull Run, Including ETF and Ripple v. SEC</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Price Prediction: Key Factors Driving XRP Bull Run, Including ETF and Ripple v. SEC

목차

Coingape News Media

2024년 2월 21일에 게재된 다른 기사

The Hong Kong Monetary Authority (HKMA) Issues Guidance For Firms Offering Crypto Custodial Services

5 Meme Coin Altcoins To Buy: Tech-Savvy Investors Turn To ETH, SOL

Hong Kong Advances Crypto Regulation and Licensing

Starknet Price Prediction: STRK Plunges 14% Despite Huge Airdrop, While New Solana Meme Coin Smog...

Crypto Prices Today: Bitcoin at $51K, Ethereum Nears $3,000 As XRP, SOL, PEPE Dip

Will you still trust DOGE after reading this?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!