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XRP Price on the Rise: Analyst Predicts Surge and Community Remains Bullish

Arslan Buttβ€’Tuesday, July 16, 2024β€’1 min read

XRP Price on the Rise: Analyst Predicts Surge and Community Remains Bullish
Is XRP price ready for a surge?

XRP (XRP) has been a topic of discussion lately, with a prominent crypto analyst, Crypto Bitlord, urging investors to buy and hold the token.Β This bullish call comes amidst the ongoing SEC vs.Β Ripple lawsuit,Β which recently marked its one-year anniversary.

A Year After SEC Lawsuit: Ripple Prevails, XRP Market Responds

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In December 2020,Β the SEC filed a lawsuit against Ripple,Β alleging that XRP was an unregistered security.Β This sent shockwaves through the crypto industry,Β causing XRP’s price to plummet.Β However,Β in July 2022,Β Ripple scored a significant victory when the court ruled that XRP was not a security.Β This ruling has instilled confidence in the XRP community and has likely contributed to the recent price increase.

Crypto Bitlord’s Bullish Prediction: XRP to the Moon?

Crypto Bitlord’s prediction is certainly eye-catching.Β He suggests XRP could reach a staggering $589,Β citing a potential relationship between exponential growth and logarithmic scale.Β While this may seem far-fetched,Β his more conservative target of $7 still reflects optimism for the token’s future.

XRP/USD Technical Analysis Backs Up Bullish Sentiment

XRP’s recent price action aligns with Crypto Bitlord’s sentiment.Β The coin has been on an upswing,Β reaching a high of $0.528 on July 15th,Β 2024.Β Technical indicators like the moving average and RSI also suggest a potential trend reversal towards bullish territory.

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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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