XRP Price Prediction as Ripple is Named Top 10 Most Valued US Startup – Price Surge Incoming?
Given the slowdown in the cryptocurrency market, XRP price prediction remains bearish as it has broken through a trendline support level at $0.3900. This is despite Ripple being named a Top 10 most valuable startup in the US.
This news comes as Ripple's attorney, John E. Deaton, warned the community that further regulation is on its way and it won't look pretty.
The attorney warned on Twitter that the US Securities and Exchange Commission (SEC), under Gary Gensler's leadership, will be harsh on crypto companies.
Deaton added that the SEC's decision to increase its staff by 50% was motivated by a desire to destroy the cryptocurrency industry.
In response to a tweet by Bitboy Crypto, Deaton said that enforcement was the only thing on the minds of the regulatory body.
Deaton elaborated on the SEC's plan of action, saying that the SEC itself might be another significant exchange that has a negative impact on the market.
“I believe it even more today because it could cause another 50% crash. Then incumbents take a larger share.”
As a result of this news, XRP is down 2.3% in 24 hours.
According to data compiled by Finbold, only one cryptocurrency company, Ripple, has made the list of America's 10 most valuable companies.
The $15 billion-valued Ripple occupies the tenth slot and has grown at such a rapid rate that it is now the only cryptocurrency-related company among the top ten most valuable startups in the United States.
Note that Ripple's new valuation came about after the company decided to repurchase shares from the investors that provided funding for its $200 million Series C round in 2019.
This valuation is a positive reflection of the faith in the project, despite the ongoing court case with the SEC.
On the technical front,
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