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XRP Price Prediction – Bulls Target $0.50 as XRP Remains Green for the Week

Arslan Butt
Last updated: | 5 min read

XRP price prediction remains bullish, after gaining immediate support near $0.3460. The XRP coin had been trending upward for several days, but it was unable to maintain that momentum, falling from a high of $0.3920 to a low of $0.3200. 

The positive comments made by Brad Garlinghouse, CEO of Ripple Labs, may, however, be attributed to the previous upward bounce. He believes that if integrity and trust remain the primary goals, the cryptocurrency sector will recover more quickly from the FTX crisis.

He encouraged open dialogue while addressing pressing societal issues with blockchain technology and cryptocurrency.

Contrarily, the bearish cryptocurrency market, which was influenced by several variables, was regarded as one of the major causes that overshadowed the recent positive comments and had a negative impact on the XRP coin.

Ripple CEO’s Upbeat Comments Gave Support for XRP

Ripple Labs CEO Brad Garlinghouse spoke on Wednesday at Ripple Swell, Ripple’s annual conference, about the cryptocurrency market’s recovery following the FTX collapse. 

FTX recently filed for Chapter 11 bankruptcy. Garlinghouse’s next tweet is largely a reiteration of his conference speech:

In the following tweet, he emphasized the importance of meeting in person to discuss how to use blockchain and cryptocurrency technologies to address real-world problems. 

According to Garlinghouse, who spoke with CNBC on Wednesday, the notion that cryptocurrencies are unregulated is “overstated.” He also mentioned that Ripple’s chief counsel, Stuart Alderoty, told a press source on Friday that the company is actively seeking an Irish license to support its EU expansion.

SEC Supporter Miss Deadline to File Amicus Brief in Ripple Case

Accredify, renamed InvestReady by the SEC, missed the deadline for submitting a formal amicus brief in the current litigation. Accredify, now known as InvestReady, a supporter of the SEC, missed the deadline for submitting a formal amicus brief in the ongoing dispute.

Attorney Jeremy Hogan brought this up when he reported on the status of the amicus briefs from James K. Filan. Amicus briefs in support of Ripple were submitted by 14 different organizations, including the Chamber of Digital Commerce, TapJets, and I-Remit. 

As a result, the price of XRP has not been significantly influenced by this news thus far.

The day before the deadline for such requests, Accredify, a company that assists in verifying investors’ eligibility for digital equity transactions, asked the court for permission to file an amicus brief in support of the SEC’s motion for summary judgment.

Bearish Crypto Market

Given the sudden increase in liquidations following the bankruptcy of the FTX cryptocurrency exchange, the market value of all cryptocurrencies has fallen below $800 billion. As a result, the decline in the cryptocurrency market was viewed as one of the key factors that limited any further gains in the XRP coin prices.

The global cryptocurrency market was worth $794 billion at the time of writing, a 5% decrease. While Bitcoin (BTC) remained stable at around $16,000, the majority of other cryptocurrencies closed the day in the red, including Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), Ripple (XRP), and Solana (SOL). 

The UNUS SED LEO (LEO) token gained the most, but only by a small margin of less than 2%. Chiliz (CHZ) was the biggest loser, losing more than 17% in 24 hours. The global crypto market was valued at $794.02 billion at the time of writing, a 5% decrease from the previous day.

XRP Price Prediction 

The current XRP price is $0.358, and the 24-hour trading volume is $2.2 billion. In the last 24 hours, XRP has dropped by 4.11%. CoinMarketCap currently ranks it at #7 with a live market cap of $18 with $2.2 marla.
There are 50,298.735,565 XRP coins in circulation, with a maximum supply of 100,000,000,000 XRP coins.

XRP Price Prediction – Source: Tradingview

On the daily chart, the XRP/USD pair is trading sideways, with immediate support near $0.3460. The 50-day moving average is close to $0.3785, and a bearish crossover below this level will most likely send XRP to $0.3650 or $0.3400.

XRP/USD Price Chart – Source: Tradingview

A double-top pattern is extending resistance at $0.400 on the bullish side, and a bullish crossover above this level could expose XRP to $0.4265 to $0.3580.

New Crypto Presales

Aside from Ripple, new presale coins are doing well and gaining traction. Let’s go over them one by one.

Dash 2 Trade (D2T)

Dash 2 Trade is an Ethereum-based trading intelligence platform that provides traders of all skill levels with real-time analytics and social data, allowing them to make more informed decisions.

It began its token sale three weeks ago and has raised over $6.6 million. It also announced the launch of its first CEX listing on LBank exchange

1 D2T is currently worth 0.0513 USDT, but this is expected to rise to $0.0533 in the next stage of sales and $0.0662 in the final stage.

Visit Dash 2 Trade now

Calvaria (RIA)

Calvaria is a brand-new cryptocurrency gaming project with the potential to dominate the play-to-earn market. According to Calvaria developers, one of the main barriers to widespread Web3 gaming adoption is that games require users to have technical knowledge of crypto. As a result, a large number of users are excluded.

Calvaria allows users who do not own cryptocurrency to participate in the game, distinguishing it from the competition and opening up the game to a whole new audience. RIA’s resale is picking up steam, with the project already in stage 4 of 10 and nearly $1.8 million in funding.

At the moment, 1 RIA token costs $0.025, but this will increase incrementally with each subsequent stage of the presale, which is currently in Stage 4.

Visit Calvaria Presale Now

RobotEra (TARO)

Another project with the potential to change the gaming community and the virtual world is RobotEra (TARO). Although the asset’s presale has only recently begun, there is already a lot of interest from potential buyers.

The platform’s native token is TARO, and it is a blockchain-based Metaverse where users can create avatars and explore a digital world. Players in RobotEra can buy land, build on it, and expand their regions with various assets.

RobotEra also has a shared metaverse where users can participate in a variety of activities such as sports, concerts, and other competitive events. The first stage of TARO’s presale is now live, and it is quickly selling out.

Visit RobotEra Presale Now