With Ripple’s recently announced partnerships and regulatory developments XRP Its price also found its own orbit and continued to consolidate. Although expectations were for the price to rise, this seems to be in vain for now.
Expectations were high that XRP would experience a significant rally after the court ruled that the token was not a security in the Securities and Exchange Commission (SEC) case. As a matter of fact, although this increase occurred in July, the gains were quickly erased.
Crypto analyst CryptoInsightUK signaled that the price is currently at a critical stage and could trigger a significant rally depending on the Bitcoin price movement.
The analyst noted that the XRP/BTC chart is positioned at the lower end of its range and has significant move potential of over 88% against Bitcoin.
The expert suggests that real excitement will occur if it breaks the 0.000028 rate on the XRP/BTC chart and holds a position above it. This move may trigger the price to rise above $1. This will ultimately be a development that will pave the way for a more than 1500% increase in BTC parity.
As we reported as Koinfinans.com, the analyst’s short-term target is to make an 88% move against BTC. However, the real target is a rise of up to 1500% after breaking the area marked by the analyst with a gray box.
XRP price is not moving in line with the cryptocurrency market and is not benefiting from gains made after regulatory clarity. Despite expectations for the price to exceed $1 following the court decision, the low price movement has sparked concerns in the crypto industry.