Investors of the popular altcoin have been unable to reap the expected returns from their investments for years due to ongoing SEC pressure. However, as all altcoins now face the threat of the SEC, the situation with XRP Coin is normalizing. Many popular cryptocurrencies have been formally marked as securities by the SEC. But XRP Coin has one advantage.
XRP Coin Future
The biggest advantage of the popular altcoin is the expected end of the lawsuit soon. Most altcoins have been caught unprepared for the battle they will enter with the SEC, but XRP Coin has now come to the end of the road. Many experts believe the case will end before the summer ends. This is exciting because, apart from BTC, BCH, ETH, and a few other cryptocurrencies, most altcoins got the security stamp. Even though SEC has officially labeled about 50 altcoins, Gensler signaled that more are on the way.
In addition to the end of the case, the possibility of smart contract capabilities coming to the Ledger network is being discussed. This will indirectly increase the price of XRP Coin. Lastly, there is a plan for Ripple to go public within 6-9 months after the end of the case. This is a positive development for XRP Coin. Even though there is general uncertainty in the market in the short term, we can say that the popular altcoin is a little more advantageous.
XRP Coin Price Target
At the time of writing, XRP Coin was finding buyers at $0.48. Closures above the 200-day EMA (0.487 dollars) need to continue. However, the popular altcoin cannot maintain this level for now. In the short term, closures above this region could quickly push the price above the 0.5 dollar resistance.
On the other hand, the current closures seem likely to test the 0.479 dollar level. Even if the bulls succeed in protecting the support areas, the 0.5 dollar resistance was challenging. This could be related to the case not ending as expected in June. Disappointed investors were victims of the overly optimistic prediction of Ripple’s CEO.
Nevertheless, for the above 3 reasons, the XRP Coin price can maintain its northward move in the medium and long term. However, investors should know that due to the rapidly increasing circulation supply since 2018, the price will have a hard time reaching the previous ATH level.
