According to analysts, Ripple (XRP) is just one step away from pointing to a 50% price rally. According to independent analyst DonAlt, a loss for Ripple puts the entire crypto market under serious threat.
“50% rally or 50% crash for XRP”
cryptocoin.comAs you follow, XRP has been on the rise in the last few days. It has gained over 5% in the last 24 hours, breaking the $0.48 level. According to analysts, XRP is just a few steps away from reaching a 50% price rally. Based on the charts, the asset tested a “resistance confluence of a multi-year descending trendline resistance, an inverted support bar, and a Fibonacci line, all revolving around $0.57.”
Analysts also say that XRP will comfortably break this merger provided Ripple wins the case against the US Securities and Exchange Commission (SEC). When this happens, analysts predict the price will rise to $0.72, a 50% increase from the October price. Contrary to this, there are also chances of the price dropping to the previous $0.31 support level. This marks a 35% decrease from its current price. According to independent analyst DonAlt, a loss for Ripple puts the entire crypto market under serious threat. The analyst shares his prediction:
If they win the whole case, XRP becomes giga pumps. If they lose, it’s a nice -50% candle. Also, an XRP loss makes other cryptos more vulnerable to attacks. So you better cheer them up.
For now, the price is currently responding positively to a comment from a former SEC director and a new partnership. On Monday, Ripple was announced as one of the co-founders of a Web3 carbon credit market based on XRP Ledger, Thallo.
Ripple community excited about court ruling and Thallo
Thallo focuses on solving problems with liquidity and lack of transparency in pricing. That’s why it’s said to be the first of its kind. According to Ken Weber, Ripple Senior Vice President of Social Impact and Sustainability, Thallo is based on the XRP Ledger. In this way, it will provide access to carbon credits to institutional and individual investors.
As the demand for carbon credits intensifies, Blockchain and crypto technology will solve persistent challenges to transparency, traceability and verification. Thus, it will be uniquely positioned to support market growth. The firm has three initial partners divided into three. These are: co-founders, integrity partners and innovation partners.
Over the past few months, the Ripple community and its executives have been very confident in winning the court case. After the decision of both parties to submit a motion for the summary decision, the parties estimate that the case is nearing its end. They believe there is enough evidence for the court to make a decision.
“Soon the whole world will adopt Ripple (XRP)”
US record producer, sound engineer and songwriter E.Smitty shared in a recent tweet that XRP is important to him as he believes in the present and future of this cryptocurrency. She also said that she uses XRP every day to pay royalties to the artists she works with. It also noted that it accepts payment for mixing, mastering, production and marketing with XRP.
First among the advantages of XRP is that transactions take only three seconds. It also does these for very small fees. Therefore, he says that the whole world will adopt XRP in the near future.
Gene Simmons still holds XRP
During the summer, the legendary musician of Kiss rock band Gene Simmons said he owns Ripple (XRP). He also clarified that he is not selling the cryptocurrency. Last year, Kiss’s core player and singer has repeatedly stated on Twitter that he owns Bitcoin, XRP, ADA, and other digital currencies. Once, he even admitted to being a Bitcoin millionaire. He also refuses to take money for destroying digital assets on his Twitter page.
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