XRP Price Prediction as Ripple CEO Prepares for SEC Lawsuit Conclusion 'This Year' – Can XRP Reach $10?
The XRP price has dropped by 3% in the past 24 hours, falling to $0.367287 as the market reels from concerns over the financial health of Silvergate Bank. Its current level means that it has declined by over 5% in a week and by nearly 10% in the last 30 days, although it remains 8% up since the beginning of the year.
Despite the downbeat news coming from Silvergate, XRP holders have reason to be optimistic over the longer term. This relates to the long-running legal battle between Ripple and the SEC, with Ripple CEO Brad Garlinghouse saying yesterday that he expects it to end this year, potentially bringing very bullish news for XRP.
If there's one silver lining coming from the market's troubles today, it's that XRP's indicators are now in a position where the coin should rebound soon. Its 30-day-moving average (red) has fallen below its 200-day (blue), bringing closer a bottom that would usually indicate a rally.
Likewise, XRP's relative strength index (purple) has sunk to just below 40. Once it reaches 30 or lower, it will have entered oversold territory, implying the profitability of buying it at a discount.
The key support level here is $0.36, which XRP held fast to earlier this morning. It may represent the bottom of any further fall today, providing buyers with a good entry point.
It's highly arguable that $0.36 is a massive discount for XRP, which is in a position benefit from some highly significant news this year. As noted above, Ripple's Brad Garlinghouse has once again reiterated that he expects his firm's case with the SEC end this year, with the CEO also saying that the case's outcome is "going to be pivotal for the whole industry."
Assuming a positive result for Ripple, one in which it's enabled to continue its
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