Ripple‘s associated cryptocurrency XRP has anchored at $0.51, experiencing a 1% drop in the last 24 hours and a 17% drop in the last 7 days. While this drop in XRP price may cause panic for many, it could actually be an opportunity for some as it may open the door for prices below $0.60.
XRP couldn’t escape the decline that affected Bitcoin and other cryptocurrencies. The sharp drop in XRP price during this decline actually indicates a general pullback. However, it is important not to overlook the rise factor that recently pushed XRP up to $0.90. It seems that after a sharp rise, XRP has entered a period of consolidation. So, is it a good time to buy XRP at these prices?
Experts from leading economic and financial news sources, such as Motley Fool, have made detailed explanations about XRP. They draw attention to the price volatility of XRP and open parentheses about whether to buy XRP at these levels in their published comments.
According to the Motley Fool team, defying the SEC‘s decision and taking a positive preliminary decision is quite positive for XRP in the long run. The SEC case is still ongoing, and it is known that the SEC will appeal this decision. Although Judge Torres’ decision is not yet known, many experts emphasize that the situation can change and that the wind is no longer blowing in Gensler’s favor.
Especially with the upcoming US elections and a possible change, it can create a critical situation for Gensler as well. The continuous growth of Ripple’s payment network and the recent entry into South Korea are also considered positive developments.
XRP, with a market value of $27 billion, is mentioned as one of the largest cryptocurrencies, and the Motley Fool team sees XRP as a positive investment at these prices. However, an unexpected decision from the SEC case will have a seismic effect on the XRP price. Investors need to be prepared, especially for this.