The XRP price gave way on Wednesday. With around 5% minus, Ripple was one of the weakest cryptocurrencies from the top 10 in the past 24 hours. Only the Dogecoin, Polkadot and Solana performed even weaker. XRP moved in line with the entire crypto market, which was also down around 5% in the meantime. But what do investors need to know now if they have Ripple in their depot or want to invest in XRP in the future?
Significant price slide today
The past 24 hours have not been a success for any Ripple owner. Because the XRP course corrected significantly. While prices above 1.20 US dollars were still the norm yesterday evening, it looks worse on Wednesday afternoon. XRP is hovering around the $ 1.15 mark. In the meantime, the Ripple price was already quoted at 1.12 US dollars. But the recent sell-off should not hide the fact that the last week of trading was a complete success. In the past seven days, XRP appreciated almost 6% in value. If you look back two weeks, you can even see a performance of around 35% for XRP.
XRP users are increasing significantly
There was positive news from the crypto experts at Santiment. Because accordingly, the interest of investors in the Ripple project is increasing. The number of users who interact with the XRP Ledger is continuously increasing. Last month, for example, there was an increase of around 175% here. This suggests that more and more capital is flowing into XRP in the crypto market.
Analysts predict rally
The past few weeks have been bullish at Ripple. Furthermore, analysts and traders see great price potential in the crypto project, which aims to modernize and improve international payments. Ripple is currently trading well below the all-time high from 2018, at which prices of over 3.80 US dollars were reached. Nevertheless, well-known crypto traders believe that XRP offers the opportunity for substantial price gains. Here are rates of around 30 US dollars in the room. A parabolic price development therefore seems possible with a view to the rally from 2017. Because the greatest price gains always took place when the bull market was in the final phase. But Credible Crypto does not assume that it will have to wait long for the prophecy to be fulfilled. Because such courses could be achieved as early as next year.
Litigation in view
In the next few weeks there are various dates that will influence the Ripple project. On August 31, the first evidence to be taken in the legal dispute between the US Securities and Exchange Commission and the company Ripple Labs. On October 15, there will be a questioning of experts in court who will give their assessment of the allegations against Ripple. The XRP price could be highly volatile these days. Because signs of a victory in court are likely to cause a price explosion, while opposing views could cause another price slide. Until then, uncertainty remains a more or less silent companion for all XRP owners.
Should you buy Ripple (XRP) now?
The Ripple price gave way on Wednesday. But the XRP price is likely to remain very volatile in the next few weeks. After all, there are crucial dates in the important legal dispute Ripple Labs vs. SEC. The first signs of a positive decision in favor of Ripple could fuel the XRP course. Because the assessments of most analysts and crypto traders are bullish. To this end, Ripple Labs is constantly developing the crypto project and implementing new application options.
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