- November 20, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Ripple News: Settlement Rumors Keep XRP Above $1, Could a Pro-Crypto SEC Chair Propel It to $8? appeared first on Coinpedia Fintech News
XRP recently reached $1.26, driven by several factors including President-elect Trump’s crypto-friendly stance and lawsuits from 18 U.S. states against the SEC. The ongoing legal battle between Ripple and the SEC continues to impact XRP’s price. The SEC has appealed a 2023 court ruling that declared XRP is not a security when sold to retail investors via exchanges. This appeal creates uncertainty around XRP’s future.
Fox News reports that Trump may appoint Brian Brooks to a key position, which could influence the Ripple-SEC saga. Legal experts suggest that a settlement or reduced fine could be a possibility, which could have significant effects on crypto regulation and talks around XRP ETFs. Pro-XRP lawyer Jeremy Hogan predicts that an XRP ETF could be approved by mid-2025, adding to growing optimism among investors.
Currently, XRP is correcting after reaching $1.15. It’s now trading below $1.10 and may drop to the $1 support level before potentially rebounding. Despite this, the market outlook remains positive, with the next target at $2 as long as XRP stays above $0.785. XRP continues to dominate cross-border payments, further strengthening its position in the crypto world.
Seasoned analyst Casi Trades took to social media and wrote, “Exciting times ahead, but a reminder to avoid chasing price action. The daily RSI shows higher highs with no divergence, indicating strong momentum. However, on smaller timeframes, we’re seeing bearish divergence. No change in my long-term outlook: $8-$13 target is not too far from here.”
In Other News…
In South Korea, XRP has surpassed Bitcoin in trading volume, reflecting strong local interest and speculative activity. South Korean traders are known for driving price rallies, which could influence XRP’s price globally.
