XRP Price Prediction: Will XRP Reach $1 Amid Ripple vs SEC Updates and Market Volatility?

XRP price prediction: As the market awaits significant legal developments, XRP steadies at approximately $0.50. Ripple’s continuing legal dispute with the SEC may have an impact on XRP’s future direction.

Key Takeaways:

• An increase in trade volume recently indicates a rise in investor interest.
• This week’s legal decisions could have a significant impact on market patterns.
• A stay of XRP above $0.50 may indicate a positive outlook for the market.

XRP price prediction: After falling sharply earlier in the day, XRP has made a small comeback. Recent developments indicate that XRP is beginning to stabilise following a very tumultuous trading day, as it has been circling the $0.5 support level. At the time of writing, the price of XRP has risen significantly, increasing by 0.32%, to $0.5062.

XRP Price Prediction: $0.5 Support Level Remains Stable Despite Market Volatility

The cryptocurrency is still the seventh biggest digital currency by market value, and its valuation has climbed little by 0.31% to almost $28 billion. Beyond that, XRP’s trade volume has increased by 138.15% in the past day, reaching over $901 million.

In the last seven days, XRP’s value has fluctuated between $0.49 and $0.53, a decrease of 4.46%. The continued volatility and unpredictability of the cryptocurrency market, as shown by this 8% decline over the past month, is eroding investor faith.

Ripple vs. SEC: Important Documentations and Legal Consequences

On May 13, 2024, Ripple and the SEC are scheduled to submit crucial documents in their continuing legal dispute. Additional responses are anticipated following week. Declarations and supporting evidence pertaining to their dispute over remedies are contained in this document, which is considered confidential.

The parties and any related businesses will file briefs challenging the requests to seal these records next week.

Because of the potential impact on the market, the crypto community is waiting with bated breath for the verdict, particularly XRP backers. A wider market recovery might be sparked by a favorable ruling for Ripple. Industry stakeholders must closely monitor this legal development.

If the market maintains its support at the critical $0.5 level, bullish investors will probably try to break through the $0.8 resistance level this week, despite the fact that there are continuing legal battles and a major court case. Assuming XRP is able to break over this level, it may shortly aim for the $1 milestone.

On the flip side, XRP’s momentum might weaken and the price could drop to the $0.45 support level if the present upward trend were to reverse. A further drop to the $0.4 level would indicate a larger market slump if negative forces take over.

The cryptocurrency market attitude is mixed, according to the 24-hour technical indications for XRP. At the moment, the MACD is in a bearish crossover, which means that prices are likely to fall. There may be some downward momentum as the MACD line is just below the signal line.

In the meanwhile, the market appears to be well-balanced as the Chaikin Money Flow (CMF) indicator is close to zero. Presently, XRP is in the neutral trend according to the Relative Strength Index (RSI), which is 42.37.

How to Trade XRP Futures on BTCC?

Now you can trade XRP on  BTCC. BTCC supports a diverse selection of cryptocurrencies for trading. This includes popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and others. BTCC also offers products such as crypto, gold, and tokenized stocks to help investors rationally allocate their assets.

1. Register an Account

Join BTCC now and get up to 10,055 USDT when you deposit and trade. Click the button below to sign up now.

2. Deposit Funds

Once your account is set up, you’ll need to deposit funds into your BTCC account. BTCC may offer various deposit methods such as bank transfers, cryptocurrency deposits, or other payment options. Choose the method that works best for you and follow the instructions provided to deposit funds into your account. BTCC mainly offers USDT margin and future trading. Therefore, you need to buy USDT  before trading.

How to Buy Tether USDT Guide

3.How to Trade BTC?

Here are the steps to trade XRP on BTCC

1) First, tap “Futures” on the website homepage

2) Select a product you would like to trade from the list here. BTCC currently offers daily and perpetual futures

3) Check time to settlement.  The settlement time of these futures type is different, you can check the time for settlement for each product here.

4) After choosing product, you can decide whther you would like to buy or sell it.  You only need to own USDT to trade USDT-margined futures.  That is to say you can sell BTCUSDT futures without owing any BTC Coin.

5) Then select your order type, and choose your leverage.

If you choose Limit or SL/TP order, you will need to enter your order price here.

Enter the quantity or choose the percentage under the quantity field.

You can also set up stop loss or take profit targets to limit losses or maximise earnings.

6)After everything is set up, Buy or  Sell to play your order. A confirmation window will show up,  check if all info is correct and click [Confirm] to open the position.