The ongoing crypto bull run phase is yet to influence Ripple with its full might. The cryptocurrency has adopted a lethargic pace, trading at a modest $0.59 price level. However, with the US SEC announcing a closed-door meeting on April 11, speculators are hoping for a possible ripple-related development to finally chart its course in a positive light. If this happens, XRPs could take off to a new price level, cashing in a much anticipated ATH.
The cryptocurrency community on X is already brimming with new hope, anticipating XRP’s new price threshold soon. With rumors of a possible settlement spreading like wildfire, XRP may finally break into a bullish streak, giving the community a much-needed profit spree.
Also Read: XRP Price: Analyst Bullish For $1 Breakout Despite Ripple’s Sluggish Ascent
SEC vs. Ripple: What’s Happening?
In a new announcement made by the SEC, the agency has decided to conduct a closed-door meeting scheduled for April 11. The meeting has sparked a rumor spree on X, fueling hopes that the meeting will finally address the Ripple case and ways to put a rest to the two-year-long, intense legal battle.
Per the circular uploaded on X, the meeting is scheduled to take place on April 11, 2024. The new development has fueled an array of speculations, mounting hopes that a possible SEC-XRP settlement may finally arrive after the scheduled meeting.
Per a notable crypto analyst with the alias “Crypto Barbie,” this development and speculation could fuel XRP’s price to climb a new high and ultimately project its long-due bullish breakout.
“The Securities and Exchange Commission (SEC) has announced a closed-door session on April 11 amid mounting speculation of an imminent settlement with @Ripple This could lead to a substantial influx of funds into #XRP once it receives the regulatory nod from the SEC! This suggests that decentralized finance (DeFi) tokens built on the XRP ledger (XRPL) are poised for significant growth.”
However, one segment of the crypto community is betting big on XRP, hoping for its price to drive ahead without any support delivered by external or internal elements.
XRP April Forecast: Is $1 Breakout On Cards For Ripple?
April seems incredibly bright for Ripple, as the firm has recently announced its USD-pegged stablecoin development. This buildup ought to stabilize the price of XRP, giving it much-needed support and a base for expansion.
Per CoinCodex, XRP may gain 11% by May 7, pushing its price to trade at the $0.67 price mark.
“According to our current Ripple price prediction, the price of XRP is predicted to rise by 12.44% and reach $0.667781 by May 7, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 78 (extreme greed). XRP recorded 15/30 (50%) green days with 4.37% price volatility over the last 30 days.”
The platform also predicts levels at which XRP may find crucial support and resistance, which it needs to cross to break into a bullish price trajectory.
“Based on today’s classical pivot point (P1) with a value of $0.592766, XRP has support levels of $0.588083, $0.582163, and the strongest at $0.577479. Similarly, XRP resistance levels are at $0.598686, $0.603370, and $0.609290.”
The platform projects Ripple to gain 15% by April 14, exchanging hands at $0.68.
“The XRP price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these XRP projections, XRP will be changing hands at $0.684313 on April 14, 2024, gaining 15.23% in the process.”
Also Read: Cryptocurrency: Top 3 Crypto Coins Slated To Deliver Top Returns Post Bitcoin Halving
The crypto analysts on X are presenting their own XRP forecasts. According to Egrag Crypto, the prospects of XRP hitting $1.2 soon are quite bright considering its steady pace of ascent since May 2022.
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