XRP Price Prediction as Crypto Prices Bounce From Recent Bottom – Is the Sell-Off Over Now?
The XRP price has gained by 1% in the past 24 hours, climbing to $0.478546 as the cryptocurrency market recovers a little from its losses earlier in the week.
While XRP remains down by 8% in a the last seven days, it's up by 6.5% in the last 30 and has risen by 40% since the beginning of the year.
This growth is largely the result of increasingly positive expectations surrounding Ripple's long-running case with the SEC, with the recent publication of the Hinman emails increasing positivity even further.
And with there being a real chance of Ripple securing a favorable outcome, XRP's recent dips could mean that investors who buy now may be in for a big return in the not-too distant future.
XRP's chart and indicators remain a little confused at the moment, given that the altcoin has recently been pulled between positive Ripple news and the SEC's regulatory assault on Coinbase and Binance.
Its relative strength index (purple) has begun sliding down again after a very modest return to 40 yesterday, signalling that the coin may fall a little lower before recovering.
It's much the same with its 30-day moving average (yellow), which is on course to fall below its 200-day average (blue), thereby forming a 'death cross' that can indicate further losses.
On the other hand, XRP's support level (green) has increased slightly in the past couple of days, with the altcoin defending the $0.470 level.
And in terms of the bigger picture, XRP's position remains pretty good, with the market increasingly coming to expect something close to a Ripple victory in the latter's case with the SEC.
Indeed, up until the regulator's enforcement actions against Binance and Coinbase, XRP was riding very high on the basis of positive sentiment with regards to
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