Tech

XRP Price Prediction – Why Waiting for an XRP Spike May Be Wrong

01/10/2023
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XRP price hasn’t necessarily benefited from the recent short-term surge in coin prices despite being one of the most valuable coins in the crypto market, However, as the case between Ripple Labs and American securities regulators continues to loom, investors might want to exercise caution.

XRP Price Action

At press time, XRP trades at $0.3472. The asset’s price has been down by 0.27% in the past 24 hours, showing that XRP is trailing the broader market – up by 0.06% in the same period.

With its price still struggling, XRP has been unable to match up with its moving average (MA) indicators. The asset trails all its major MA indicators, ranging from the 10-day MA of $0.3476 to the 200-day MA of $0.3485.

XRPUSDT_2023-01-10_09-31-03

XRP’s moving average convergence divergence (MACD) is negative, showing that the asset is still giving off a sell signal. Nevertheless, long-term investors would also be happy to see its relative strength index (RSI) holding steady at 59.63 – an obvious sign that it isn’t overbought yet.

SEC Case still Looms

As the new year begins, the cryptocurrency market appears to be cooling off. However, the fact that XRP did not benefit significantly from the recent spike in coin prices could be alarming to some investors.

It is also worth noting that the asset’s creators are still in a legal battle with the Securities and Exchange Commission (SEC). The case, which has been over two years old, is set to come to a close this year as both parties have made their final filings.

The SEC has alleged that Ripple Labs broke securities regulations by offering XRP in the asset’s initial coin offering (ICO). So far, the case could have significant implications as a win for the SEC could classify XRP, and many other assets, as cryptocurrencies.

Nevertheless, the top brass at Ripple Labs remains hopeful that things will come to an amicable end. Brad Garlinghouse, the company’s chief executive, recently shared optimism that the crypto industry will see better regulatory clarity on cryptocurrencies this year, and even though the country remains behind several others in terms of crypto adoption and regulatory clarity, he believes that a coordinated effort to ameliorate this condition is already underway.

Alternative Coins for Massive Gains

At the moment, XRP is still in a dicey position. However, as investors continue to look for gains, other new coins present massive profitability opportunities.

Dash 2 Trade (D2T)

One new digital asset on many investors’ watchlists is D2T. The token powers Dash 2 Trade – the self-proclaimed “Bloomberg terminal for crypto” that makes it easy for investors in the market to vet their moves and make informed investment decisions.

From a trading API to social trading and a strategy builder, Dash 2 Trade makes it easy for investors to access all the data they need to earn in the market.

The D2T presale ends in one day. With over $15.1 million now raised, it is set for a listing on multiple major exchanges, including Gate.io, BitMart, Uniswap, and LBank, tomorrow, Wednesday, January 11th, by 10am UTC.

Fight Out (FGHT)

Another coin that has been gaining massive attention is FGHT – the native token for the Fight Out ecosystem. Fight Out is a reliable move-to-earn platform that allows users to earn as they keep fit.

Fight Out has built a resilient platform that tracks all users’ vitals and pays them for keeping fit. They can also access fitness sessions and enter a metaverse where they can work out, display their gains, and earn.

FGHT is currently available on presale and has raised over $2.8 million thus far.

Related News

Dash 2 Trade – Crypto Analytics Platform

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Source: https://insidebitcoins.com/news/xrp-price-prediction-why-waiting-for-an-xrp-spike-may-be-wrong