XRP, one of the largest cryptocurrencies by market cap, is experiencing significant price fluctuations amid strengthening market trends and legal proceedings.
XRP Price and Market
All through the Ripple vs SEC case, XRP has been struggling between $0.52 and $0.60 since mid-July, holding a hefty fully diluted valuation of $58.6 billion. Despite an impressive daily trading volume of $1.5 billion, the large-cap altcoin continues to face tough resistance from a stubborn macro falling logarithmic trendline.
Opinion of Ripple CTO David Schwartz
Ripple’s CTO, David Schwartz, recently shared his thoughts on XRP’s price trajectory. In response to an X user who suggested that Ripple was suppressing XRP’s value, Schwartz confirmed his holdings and expressed a clear desire to see the price rise. 'I hold XRP,' he emphasized, adding that he certainly would if he could push the price higher. He also highlighted that lower prices for XRP result in higher payment costs, making it less practical for payments.
Possible XRP Price Breakout
XRP has been in a sideways pattern, but a potential breakout is on the horizon as Bitcoin targets the $100K-$150K range. A run to $2 by 2025 seems possible, particularly with the SEC case nearing its end and whales accumulating 380 million XRP in the last 10 days. With Bitcoin rallying and market sentiment turning positive, XRP could see significant gains as smart money positions itself for a major move.
Is this the moment for XRP to break through and rally higher? We have to wait and watch XRP’s next move.
Comments