📰 Major Updates for $XRP
XRP was recently seen trading at the range of $2.95 and $3.00. Industry speculators make XRP price prediction of $4.80. That projected price point is 44% increase from the current price. However, the US regulatory environment XRP is operating in remains uncertain.
XRP is trading lower because of sell-off that was triggered by $BTC Bitcoin’s price plunging. Close to $600M in bullish XRP wagers were drowned, resulting in near 6% loss for XRP.
Ripple’s decision to unlock one billion XRP from August escrow vaults will not have a significant impact on price. This is due to the massive amount of XRP tokens that get ‘re-locked’ right after the initial release.
XRP experienced a near 8% drop as XRP was not able to break the $3.1 mark for resistance. This triggered bearish cryptocurrency momentum which the XRP is deeply rooted in.
All eyes are on the SEC and their August 15 deadline. Investors are desperate to know the outcome of the appeal the SEC has lodged against Ripple which, if withdrawn, could pave the way for ETF issuance.
