Once ascending to the second largest cryptocurrency by total market value, XRP faced a drastic downturn following news of a lawsuit. Post-lawsuit, XRP was delisted from several exchanges and has struggled to regain its former position. Does this mean all hope for a price increase for XRP is gone? Contrarily, a renowned analyst took to Twitter to highlight that the situation is shifting favorably.
“XRP Price Mobilizes Against BTC”
In the last 24 hours, XRP has managed to resist the overall decline in the crypto market, with a rise of 1.4%. The XRP/USD is currently trading at $0.49, following a 5% decrease over the last week. However, for XRP investors, promising developments are afoot. Noted crypto analyst Mr. Huber shared a significant post on Twitter, revealing that XRP has gained 200% in value against BTC since the SEC lawsuit. This superiority of XRP against BTC can certainly excite investors.
The analyst is highlighting the price movement starting from the bottom reached after the lawsuit was announced. The XRP price had drastically fallen following the lawsuit announcement on December 22, 2020, but as shown in the chart, it managed to rise from its ashes.
“XRP Price Predictions”
Exciting developments are expected for XRP investors in the coming days, with the onset of the third quarter being crucial. Famous crypto analyst DefendDark made a statement on the issue. According to the analyst’s video and statement, XRP investors could be eyeing targets at $0.89, $1.73, and $3.39 in August. The analyst mentioned that the rally will start with breaking $0.89, and $3.39 being the ultimate bull target.
For XRP to achieve such a rise, a general altcoin bull may be necessary. However, a favorable result for Ripple in the SEC lawsuit will undoubtedly create an independent rally effect for XRP.
XRP investors are anxiously awaiting news from this lawsuit.
