XRP Price Prediction as Trading Volume Blasts Past $1 Billion How High Can XRP Go?

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Arslan Butt

Crypto Writer

Arslan Butt

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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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October 23, 2023 08:32 EDT

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The XRP price prediction remains neutral as investors remain uncertain about the ongoing Ripple vs. SEC battle. James K. Filan has reported that the SEC has taken no stance on applications to file amicus briefs by Philip Goldstein, Investor Choice Advocates Network (ICAN), and SpendTheBits in the ongoing Ripple dispute.

In place of that, Filan imposes a single stipulation. The SEC wants to be allowed to file a reply brief in support of its motion for summary judgment on November 15 in case the motion is granted. 

#XRPCommunity #SECGov v. #Ripple #XRP The SEC takes no position on the motions to file amicus briefs by the Investor Choice Advocates Network and SpendTheBits, Inc., but requests that it be able to respond in its reply brief in support of the SEC's motion for summary judgment. pic.twitter.com/iKid0QTVUt

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) October 26, 2022

Phillip Goldstein, SpendTheBits, and the International Cryptocurrency Action Network have all said that they plan to file amicus briefs in support of Ripple in the ongoing dispute. According to SpendTheBits, Bitcoin transactions on XRP take only five seconds. 

Amicus Curiae and Recent Developments

Some people, both inside and outside the crypto community, have been making predictions based on the current state of affairs since things started to take shape.

#XRPCommunity #XRP @s_alderoty on the SEC’s OIG report concluding that “there is uncertainty” whether the SEC even has jurisdiction over crypto. 👇👇 https://t.co/WOpwGsuxWJ

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) October 27, 2022

According to recent events, the SEC gave final approval to the Amicus Curiae after initially expressing numerous objections to it. The SEC informed District Judge Analisa Torres of this in a letter, as detailed in a tweet.

An amicus curiae is a third party who is not a party to the case but is granted access to court documents in order to provide information on the disagreement. Some XRP holders and businesses have come forward with information about cryptocurrency. These specifics are needed to ascertain whether or not XRP was promoted and sold by Ripple as a security.

XRP Price & Tokenomics 

The current XRP price is $0.464, and the 24-hour trading volume is $1.7 billion. CoinMarketCap now ranks #6 with a live market cap of $23 billion. It has a total quantity of 100,000,000,000 XRP coins and a circulating supply of 50,085,407,159 XRP coins.  

The XRP coin is gaining traction as the royal struggle between the SEC and Ripples nears its conclusion, and investors appear to be preparing for an upward trend.

On a daily timeframe, the XRP/USD pair is trading sideways, with immediate support located near $0.4415, being extended by an upward trendline. Furthermore, XRP remains above the $0.4410 level thanks to the 50-day moving average.

XRP may face resistance near $0.520 and $0.557 on the upside. However, a further break of the $0.557 level could expose XRP to the $0.616 level.

After the court case is resolved, there is a good chance that the price of XRP will rise above its all-time high of $3.40.

New Crypto Presales

Ripple settlement may not take place until the second quarter of next year, so traders hoping for a quick profit may be disappointed. Presales and new altcoins are one area where more speculative traders can quickly make a large profit, even in a bearish crypto market.

We’ve been keeping an eye on the IMPT token presale, a new cryptocurrency that recently raised over $11 million.

Visit IMPT Now