Bitcoin price remains stagnant around the $66,000 mark, while altcoins show little movement. The temporary halt in ETF withdrawals, which began on April 12, has provided hope for the future.
XRP Coin has experienced some notable developments that could impact its price. What predictions are currently being made?
Ripple (XRP)
On Monday, Ripple’s legal team responded to the latest demand from the SEC. We have previously discussed how this development could lead to increased volatility, and yesterday’s price rise was a reflection of that. On April 22, Ripple opposed the SEC’s $2 billion claim and instead proposed a $10 million fine as an alternative. If accepted, this move could prevent the need for massive token sales to cover billion-dollar compensations.
In their defense against the SEC’s hefty compensation claim, Ripple’s lawyers are seeking to consider the income taxes paid against corporate sales revenues and the losses incurred. The SEC had previously demanded a smaller penalty in a similar case (LBRY), which was significantly reduced due to the company’s financial limitations.
XRP Coin Price
While the overall market has experienced significant growth this year, the price of XRP Coin has actually fallen by 14% despite a 57% rise in BTC. However, some investors may view this as an opportunity to invest at a lower price.
Although this may not be immediately reflected in the price, we can observe this trend among investors. The number of addresses holding between 1 million and 100,000 XRP has increased significantly in April. Additionally, there seems to be a growing interest among smaller investors holding between 10,000 and 1,000 XRP.
In terms of price, if XRP Coin closes above $0.526, it could establish support at the $0.55 and $0.596 levels, with potential targets of $0.64 and $0.74.
Disclaimer:
The information provided in this article should not be considered investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research.
