CryptoRaja

bybit

Bullish for Ripple (XRP)? Popular Exchange Announces Support: Details

Bullish for Ripple (XRP)? Popular Exchange Announces Support: Details

TL;DR

  • Ripple’s 2023 Achievements: XRP’s price has surged over 80% this year, and Ripple gained partial legal victories against the SEC, leading to the dismissal of charges against its executives.
  • XRP Re-listed on Major Exchanges: Following its legal successes, XRP was re-listed on several major cryptocurrency exchanges, including the recent addition of Blockchain.com.
  • Future Price Predictions for XRP: Despite stable current prices, analysts forecast a bullish future for XRP, with predictions of significant price increases, potentially reaching $1.40 by March 2024.

XRP Embraced by Another Exchange

Despite the ongoing market correction, Ripple and its native token – XRP – have had quite a successful year (so far). The blockchain enterprise gained recognition with prestigious awards, while its coin’s price has soared by over 80% since January 1.

Some might argue that Ripple’s main achievement this year was its winning streak against its big enemy – the United States Securities and Exchange Commission (SEC). The firm won three major (yet partial) court victories, the first happening in mid-July when Federal Judge Analisa Torres determined that Ripple’s XRP sales from years ago did not constitute an offer of investment contracts. 

In October, the magistrates dismissed the regulator’s wish to appeal the initial decision, while CEO – Brad Garlinghouse – and Executive Chairman – Chris Larsen – were cleared of all charges brought by the watchdog.

With Ripple currently having the upper hand in the legal battle, numerous leading cryptocurrency exchanges, including Coinbase, Crypto.com, and Kraken, decided to re-list XRP on their platforms. 

Most recently, Blockchain.com added its name to that list, announcing support for the asset. Recall that the exchange halted XRP trading at the beginning of January 2021, shortly after the SEC sued Ripple.

Where is XRP Headed?

Despite the interaction coming from Blockchain.com, XRP’s price has remained relatively flat in the past 24 hours, hovering around $0.62 (per CoinGecko’s data).

Nonetheless, multiple analysts have recently laid out bullish predictions, envisioning the token to jump in the near future.

The X (Twitter) user EGRAG CRYPTO noted the recent “flash crash” of the crypto market, arguing it should act as a “stark reminder that leveraging these trades can lead to devastating losses.” Still, the analyst believes that XRP is on the right path, forecasting its valuation to climb to $1.40 by March 2024.

JD was even more optimistic, claiming the asset might soon experience a so-called “Golden Cross,” which could possibly lift the price exponentially.

Those willing to check how XRP might perform in the remaining weeks of the ongoing year could take a look at our dedicated video below:

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).