XRP Price Prediction as Central Bank of Montenegro Plans CBDC Development with Ripple – XRP to $1 Soon?
The world’s sixth-largest crypto XRP, boasting approximately $26 billion in market capitalizing, lost 3.3% in 24 hours amid an ongoing quest to secure higher support at $0.5 after bulls took a breather at $0.5853, the highest peak in March.
XRP is trading marginally above $0.5 mid-through this week’s trading. Holding above the same level is critical for the resumption of the uptrend, otherwise, XRP may resolve to test the subsequent buyer congestion at $0.45.
The largest cross-border money transfer token is at a crossroads where two outcomes are possible. Holding support at $0.5 intact will most likely favor the bulls, allowing them to plan another massive attack on the supply zones $0.55, $0.65, and $0.85.
XRP price performed exceptionally well in March as investors booked positions ahead of the imminent summary judgment of the lawsuit between Ripple, the issuing company, and the US Securities and Exchange Commission (SEC).
Ripple won a significant number of motions during the court process, which could explain the soaring optimism among investors ahead of the summary judgment, expected on or before May 6.
A win for Ripple is a win for XRP and possibly the larger crypto industry, which has been facing increased regulatory pressure, especially from the US.
That said, XRP price is expected to rally following the summary judgment. If the SEC wins the case, legal experts say Ripple may appeal the ruling, paving the way for a long court battle.
Meanwhile, a tug-of-war is intensifying on the daily chart with support at $0.5, as mentioned, likely to uphold XRP’s uptrend to $1.
The presence of a golden cross formed when the 100-day Exponential Moving Average (EMA) (line in blue) crossed above the longer-term 200-day EMA (line in
Read more on cryptonews.com
