Ripple’s XRP token faces significant resistance at $0.60. In the charts for the week, the asset has fallen by 0.8% and in those of the 14 days it is down 3.8%. XRP, however, has appreciated by 2.9% over the past month and by 9.7% on a daily basis. Moreover, XRP’s price has risen by over 60% since March 2023.
Also Read: Ripple: Could XRP Be Headed for $1 After the Bitcoin Halving?
XRP’s recovery has been slow despite a recent market rally. The asset’s lackluster performance is likely due to Ripple’s ongoing lawsuit with the US SEC (Securities and Exchange Commission).
Can Ripple’s XRP hit $0.80 this week?
XRP saw a price surge last week of up to $0.73. However, the asset’s price could not hold and fell soon after.
According to CoinCodex, Ripple’s XRP could climb to $0.78 on Mar. The price of XRP could rise to $0.78 on March 22, 2024. This would be a gain of approximately 27.8% over current levels. The platform predicts a price correction shortly after. CoinCodex believes XRP will fall to below $0.70 in March. 24, 2024.
Also Read: Ripple: 3 Reasons Why XRP Could Turn Around to End March
Changelly The same picture is painted for XRP. It predicts that the asset will reach $0.796472 by March 21, 2024. 21, 2024. A growth of 30.5% is achieved by reaching $0.796472 at current levels. Changelly, on the other hand predicts that soon after rallying XRP’s price will be below $0.70.
Ripple’s lawsuit with the SEC has been a significant barrier to XRP’s price. Investors are awaiting a decision from the US high court on the Ripple lawsuit, even though a US District Court partially ruled in Ripple’s favor last year. If the high court rules similarly to the district court, we may witness a surge in XRP’s adoption and price. Nonetheless, until we have a ruling from the US high court, XRP’s price may continue to trade at around current levels.
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Source: watcher.guru
