Bitcoin’s price continues its volatile journey, and it’s hard to say things are going well. The largest cryptocurrency by market value, Bitcoin, is lingering at the $62,300 level. Although the recovery after hitting the bottom was promising, the gains could not be maintained. Now, there is an increased risk of further declines. What are the predictions on the XRP Coin front?
XRP Coin Predictions
This week, XRP’s price against BTC has fallen to its lowest level in three years. Since April 2021, the price has been steadily decreasing. According to Tony Severino, founder of CoinChartist, at least the bottom has been reached in the BTC pair, and it’s time to buy XRP Coin. Despite the recent BTC drop, there has not been a new bottom test in the XRPBTC pair.
“Great point, XRP/BTC just gave a buy signal.”
According to Iva Wisher, co-founder of Prom and former lead analyst at 3commas, this dull price action will continue. XRP Coin has not seen above $1 for a long time and is moving between $0.74 and $0.48. The analyst believes this sideways movement will not end until Ripple’s ongoing battle with the United States Securities and Exchange Commission is resolved.
“XRP’s price movement is tied to the uncertainty created by its legal battle with the SEC. Such barriers naturally lead to cautious investor sentiment and reduced trading activities.”
In a lawsuit filed at the end of 2020, the SEC accused the company of raising $1.3 billion through an unregistered securities offering and sale. Recently, they demanded a $2 billion fine, and Ripple’s lawyers are trying to reduce it to $10 million.
Is XRP Coin at the Bottom?
Some experts argue that XRP is at the bottom in its BTC pair. Charting Guy, a cryptocurrency commentator, is among them. He believes we should see a new jump in the XRPBTC pair soon, within a short period by July.
“The target predicted by the fractal is 0.00006486. With today’s BTC price, this would roughly translate to a price of $4.09. As I always say, by July, the all-time high. Now let’s say $BTC reaches $85,000 -$100,000 then, we are talking about a price of $5.51 – $6.48.”
These are very speculative forecasts because the billions increasing in circulating supply are also pulling down the ceiling price of XRP Coin. If the market value sees the 2021 bull peak, XRP Coin price would peak at around $1.3 with the current circulating supply.
