The cryptocurrency market is trending strongly upward with the breakout of major coins like Bitcoin, Ethereum, and XRP.
XRP's price has stabilized at important support levels after the conclusion of the Ripple and SEC lawsuit, opening up legal prospects and sustainable development for this coin in the near future.
MAIN CONTENT
Bitcoin surpasses $123,000, increasing 7.7% over the week.
Ethereum rises nearly 30%, trading around $4,760.
The Ripple and SEC lawsuit has closed, allowing XRP to develop steadily.
How have the prices of Bitcoin, Ethereum, and XRP fluctuated in the past week?
Bitcoin just surpassed the $123,000 threshold, recording a 7.7% increase for the week, setting a new historical peak. Ethereum rose nearly 30%, trading around $4,760. XRP also performed well with an increase of over 12%, reaching $3.33.
This simultaneous growth reflects the strength of the cryptocurrency market, while also driving capital flow and investor interest. The highlight is Ethereum with its superior growth rate, demonstrating the potential for application and the expanding development of the DApp network.
Especially, Bitcoin continues to assert its leading position with consecutive ATH achievements, creating an optimistic sentiment for long-term investors.
How does the closure of the Ripple and SEC lawsuit affect the price of XRP?
The official conclusion of the lawsuit between Ripple and the SEC has helped eliminate the significant legal pressure that has lasted for many years affecting XRP. Investors and the community have witnessed a recovery in trust towards this coin.
SEC Chairman Paul Atkins stated that this is an important turning point to shift the focus from legal disputes to building a reasonable cryptocurrency policy framework, facilitating innovations in the industry.
With the lawsuit closed, we have the opportunity to focus energy on building a clear regulatory framework that encourages innovation while protecting investors.
Paul Atkins, Chairman of the SEC (2024)
The end of the legal dispute also helps Ripple develop new partnerships, creating a foundation for sustainable development for XRP in the next phase.
Price forecast for XRP and expert opinions on the prospects of this coin
Manhar Garegrat, National Representative at Liminal Custody, assesses that XRP has shown resilience in the current cycle and maintains stable trading in the range of $3.5 – $5 if the growth momentum and global cryptocurrency acceptance continue.
He also hopes that the approval of the XRP ETF will contribute to enhancing the stability of this asset, thus increasing its appeal to institutional and individual investors in the near future.
XRP has shown resilience in this cycle and can maintain a price range of $3.5 to $5. The approval of the XRP ETF will help this asset to be more stable.
Manhar Garegrat, Head of Liminal Custody (2024)
Although there are further forecasts like levels $7-10, cautious views still suggest the market needs more time to confirm liquidity and a solid legal framework.
What reasons help XRP maintain critical support levels after the lawsuit?
XRP has maintained key support levels thanks to the positive conclusion of the lawsuit with the SEC and optimism from analysts. This limits the probability of a deep decline, while also attracting new capital inflow.
Ending the legal dispute also helps XRP focus on developing technology and expanding its partner network. This is a key factor in maintaining stability and growth in the future.
This event also signals a new era in shaping the cryptocurrency regulatory framework, contributing to improving market confidence, especially for assets previously affected by legal issues like XRP.
What are the biggest factors influencing the future price of XRP?
Three key factors including the approval of the XRP ETF, progress in a reasonable legal framework, and the increasing acceptance of cryptocurrency worldwide are having the greatest impact on XRP's price in the cryptocurrency group.
In addition, establishing new strategic partnerships and the appeal from institutional investors also play a significant role in creating sustainable liquidity.
The community and experts agree that for XRP to establish a higher value, there needs to be a synchronized coordination between legal aspects and technical development.
Frequently Asked Questions
What is driving XRP's price increase?
The conclusion of the Ripple and SEC lawsuit helps eliminate legal pressure, combined with expectations for ETF approval and expanded partnerships, driving XRP's price upward.
Is the strong rise of Bitcoin and Ethereum sustainable?
Both Bitcoin and Ethereum have recorded new record levels thanks to the development of networks and increased investment demand, but it is still necessary to monitor market fluctuations and global risks.
What makes XRP's new stability?
XRP maintains important support after the lawsuit, along with ETF prospects and increased global adoption helping this coin to be more stable.
What is the most reasonable price forecast for XRP currently?
Many experts are looking at a price range between $3.5 and $5 in the next phase, lower than unrealistic forecasts like $100.
How does legal policy impact the cryptocurrency market?
The end of litigation and the establishment of a clear regulatory framework help enhance stability and trust, thereby supporting sustainable development for the entire industry.
Source: https://tintucbitcoin.com/xrp-co-the-len-5-usd/
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