Edge

Billion

Nothing

<ul class="list-ic vertical">
 <li><span>1</span> <a>The XRP has performed poorly in the last week, month, and three months, implying a stable downward direction.</a></li>
 <li><span>2</span> <a>Ripple’s former director emphasized that the final ruling by the U.S. District Court Judge Analisa Torres is crucial for any significant price movement.</a></li>
</ul>
<p><strong>Ripple’s </strong>native token, XRP, has not performed well and looks stagnant. Its stagnant performance has been a hot topic, drawing a lot of attention in the crypto community. While many other cryptocurrency projects are experiencing quite a positive trend, despite that XRP seems to be unaffected.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-how-has-bitcoin-affected-the-xrp-price-strong"><strong>How Has Bitcoin Affected the XRP Price?</strong></h2>
<p><strong>Recently</strong>, this week, XRP has struggled to maintain its position. When the price of Bitcoin plummeted, almost all crypto assets had a rough day. This week, the price has dipped by 7.80% due to a shift in market sentiment indicators indicating bearishness, as BTC was down. However, the candle formation on June 12th signifies that bulls are attempting to gain ground again.</p> 
<p><a href="https://in.tradingview.com/chart/XRPUSD/ye76RaEJ-Recently-this-week-Ripple-has-been-struggling-to-maintain-its-p/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a></p> 
<p>Furthermore, the price has traded at $0.484 at press time with an intraday surge of +0.83%. XRP’s market value stands at $26.889 Billion, and its trading volume is $1.195 Billion. There are 55.506 Billion XRP in circulation. The market holds considerably low liquidity in the XRP market as the Volume to market cap (24H) stands at 4.44%.</p>
<p>Above all, the former Ripple director Sean McBride shared an insight into why XRP’s performance has been poor and lackluster on the price chart.</p>
<h3 class="wp-block-heading" id="strong-sec-lawsuit-the-root-cause-of-the-xrp-price-struggle-strong"><strong>SEC Lawsuit, the Root Cause of the XRP Price Struggle!</strong></h3>
<p>According to McBride’s insights on X, the ongoing SEC vs. Ripple lawsuit happens to be the root factor preventing the<a href="https://www.thecoinrepublic.com/2023/10/06/ripple-xrp-price-is-trading-at-support-can-it-boost-up/" target="_blank" rel="noopener noreferrer nofollow"> XRP price </a>from skyrocketing on the chart. The Former Ripple director also believes that the final ruling by U.S. District Court Judge Analisa Torres is crucial for any significant price movement to happen on the chart.&nbsp;</p>
<p>Furthermore, until the lawsuit gets resolved, McBride emphasized that expecting any substantial changes in the XRP’s price value would prove to be unrealistic. However, favorable outcomes for Ripple in the lawsuit could lead to increased collaboration between U.S. institutions and Ripple, thereby boosting XRP’s price.</p>
<center>
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">I think I’ve mentioned this before. Nothing significant is going to happen with the price of XRP until Judge Torres makes her decision. So anyone expecting anything different is delusional. The next big piece of this is clear legislation in the US. Hopefully that is on the way…</p>— Sean McBride (@seanmcbride16) <a href="https://twitter.com/seanmcbride16/status/1800566962281758852?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 11, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center>
<p>McBride believes U.S. institutions await a clear legal outcome before fully engaging with Ripple and XRP.</p>
<h3 class="wp-block-heading" id="strong-xrp-price-analysis-and-prediction-strong"><strong>XRP Price Analysis and Prediction</strong></h3>
<p>The XRP crypto has demonstrated a decline as the price sank from a vital supply level of around $0.73 on the chart by mid-March 2024. The asset has displayed a bearishness and falling tendency as it plunged below the major trend of 50-day and 200-day EMAs.</p>
<p>The XRP asset has displayed bearish characteristics, as the RSI has fallen smoothly and is near the oversold territory, and MACD shows a bearish cross.</p> 
<p><a href="https://in.tradingview.com/chart/XRPUSD/al5UuIta-The-XRP-asset-has-displayed-bearish-characteristics/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a></p> 
<p>It has attained bad performance in the last week, month, and three months, by -7.80%, -2.90%, and -29.70%, respectively, implying a stable downward direction.</p>
<p>Therefore, the XRP crypto price could decline further if it fails to stay above the $0.4750 level. However, if the demand for the asset price increases, it could bounce back strongly from the current level. The next goal for the price could be to reach $0.1200.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>The XRP token has been performing poorly and seems unaffected by the positive trends experienced by many other cryptocurrency projects. The ongoing SEC vs. Ripple lawsuit is believed to be the main factor preventing XRP’s price from skyrocketing. Ripple’s former director emphasized that the final ruling by the U.S. District Court Judge Analisa Torres is crucial for any significant price movement. The price analysis indicates a bearish trend, with XRP displaying declining tendencies and potentially facing further decline if it fails to stay above the $0.4750 level.</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

XRP Is On Edge While Awaiting Crucial Court Ruling Amidst Bear Trend

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Thecoinrepublic.com

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