XRP’s price over the past years has been relatively disappointing for a coin that debuted in 2013. Consequently, investors are gradually running out of patience with the coin, as all hope for a potential turnaround in fortune seems to fade gradually.
Adding to XRP’s woes is the fact that it is still in the United States Securities and Exchange Commission (SEC) black-books despite Judge Torres’ favorable ruling in July 2023.
Read Also: Crypto Analyst Sees XRP Potential Price Breakout
The legal dispute to clear XRP of the allegation levied against it by the SEC started around late 2020 and has since escalated, resulting in XRP’s poor run in the 2021 general market rally. With the present situation, the digital asset is on the verge of missing out on another imminent bull run.
However, there are chances that the court would pronounce a final judgment within the year, which implies that hope still abounds for XRP to partake in subsequent market rallies.
Amid the uncertainties around XRP’s price actions, two renowned crypto analytical and price prediction platforms have projected a potential bullish potential for the coin this weekend.
According to the Coincodex price prediction chart, XRP would sustain its current price status around the $0.50 price region until May 17, when it will gather enough momentum to orchestrate an upward trajectory, breaking several resistance levels.
Interestingly, the price chart indicated that XRP would touch $0.55 on May 18 and continue ascending to about $0.66 on May 19. The upswing would extend to May 20, when XRP would hit a supposed zenith price level of approximately $0.70, after which it would begin to decline, touching $0.64 on May 21.
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Changelly is another crypto assets price forecast and analytical platform with extensive applications for making informed decisions in the crypto space. Its price prediction pattern going into the weekend mirrored that of Coincodex with little discrepancies.
Per Changelly’s price targets for XRP, the digital asset would hit $0.55 by May 17, then ascend to $0.66 on May 18. Changelly noted that the pattern would continue, culminating in XRP at about $0.70 on May 19, paving room for a reversal that would see the coin drop to $0.64 on May 20 and a further decline around $0.55 on May 21.
Comparing the price prediction patterns on Changelly and Coincodex, it is safe to say that the weekend holds good tidings for XRP. However, as with happenings in the crypto sphere, nothing is certain. Hence, this insight should not serve as investment advice, as XRP’s price can swing in any direction.
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Taipei, Taiwan, 19th June 2024, Chainwire
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