XRP's price saw a sharp decline following the SEC's decision to drop its lawsuit against Ripple. Experts weigh in on the current situation and future prospects.
XRP Price Drop: Current Situation
Despite the SEC's lawsuit against Ripple being dropped, XRP's price fell 6% in the past 24 hours to $2.13. The token hit a high near $2.50 earlier in the week but lost support at the 20-day EMA, around $2.17. This has sparked discussions on potential price movements.
Bitwise 2025 Scenarios
Investment firm Bitwise released a report with price forecasts for XRP through the end of 2025. A bullish scenario predicts a rise to $4.48 due to tokenization, while a bearish scenario suggests a fall to $1.82 due to institutional adoption lag.
TehThomas's Analysis
Analyst TehThomas identifies XRP as being in a 'Golden Pocket' Fib support zone, indicating a potential price rebound to over $2.80. Investors are closely watching this support zone for signs of a bounce.
The future of XRP remains uncertain despite recent regulatory changes. While some experts see signs of a potential recovery, risks are high, and investors are watching developments closely.
