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Ripple (XRP) has been in a negative mood since March 11, 2024, falling from $0.78 to a low of $0.43. The current price of XRP stands at $0.52, and for now, bears continue to control the price movement. In the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Ripple is preparing to submit an important response this week to the SEC’s remedies briefing.

As Ripple gets ready to submit its reply, there is much speculation about the content and approach of its response. This action represents an important point in the ongoing lawsuit that has drawn the focus of the cryptocurrency community. So where is the price of Ripple (XRP) going next, and what can we expect from the rest of April 2024?

Today, Crypto Lists will discuss Ripple (XRP) price estimates from a technical and fundamental analysis perspective. Please note that there are also many other factors to consider when entering a position, such as your time horizon, willingness to risk, and how much margin you have if trading with leverage.

Ripple and SEC are again in focus

Ripple is preparing to submit an important response this week to the SEC’s remedies briefing and this represents an important point in the ongoing lawsuit that has drawn the focus of the cryptocurrency community. The regulatory agency detailed its suggested remedies that seek the disgorgement of profits derived from XRP sales and civil penalties.

Ripple now has the chance to address these proposed remedies and present its arguments before the court. The SEC is seeking around $2 billion in penalties from Ripple, alleging that the company violated securities law through unregistered XRP sales in institutional transactions. As Ripple prepares to file its reply, there is much speculation about the content and approach it will take but everything will be detailed explained this week.

Crypto analysts expect Ripple to strongly challenge the SEC’s proposed remedies and say that Ripple may leverage recent legal victories and regulatory developments to bolster its case. It is also important to mention that Ripple Chief Legal Officer Stuart Alderoty emphasized the importance of the recent victory in the SEC v. Govil case, which established that if a buyer does not incur financial loss, the SEC cannot claim disgorgement from the seller.

Ripple’s arguments might likely challenge the SEC’s request for penalties and highlight the lack of financial loss to buyers, potentially undermining the SEC’s claim for disgorgement. Ripple CEO Brad Garlinghouse voiced his worries about what he views as an anti-crypto approach from U.S. regulators, especially criticizing the SEC under the direction of Gary Gensler.

Rating: 9.33/10
Supply: 47,739,998,208 / 99,999,997,952
Release date: August 8, 2013

Description: Discover Ripple and be part of the cryptocurrency revolution.

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.


Regulators should promote innovation and compliance

Ripple CEO Brad Garlinghouse is looking for a regulatory approach that promotes innovation and compliance, suggesting that supportive regulation could promote substantial economic growth and job creation in the U.S. He highlighted the contrast in regulatory attitudes globally and mentioned that countries like Singapore, Dubai, the UK, and the EU have made significant legislative progress, making them attractive hubs for crypto innovation and investment.

According to Brad Garlinghouse, this imbalance has prompted capital and entrepreneurs to move away from the U.S. in search of more favorable conditions. Regarding Ripple’s strategic plans, Garlinghouse revealed the company’s exciting plans to introduce a U.S. dollar-backed stablecoin later this year. This initiative aims to connect traditional finance and cryptocurrency, positioning Ripple as a leader in the stablecoin market, which is expected to expand significantly in the coming years.

Concerning Ripple’s growth and strategy,  the Ripple CEO noted that 95% of the company’s customers are based outside the U.S., calling this a “huge opportunity” for Ripple. However, in the upcoming days, the price of XRP will be significantly influenced by the decisions of the U.S. Securities and Exchange Commission (SEC) and with the general situation in the cryptocurrency market.

Investors should keep in mind that while positive developments can trigger substantial price increases, they also carry potential risks. Hence, engaging in investments related to XRP demands deliberate consideration. Undertaking comprehensive research and evaluating one’s risk tolerance are fundamental measures prior to committing to any investments within this sphere.

Technical analysis for Ripple (XRP)

Ripple has weakened from $0.78 to $0.43 since March 11, 2024, and the current price stands at $0.52. Despite the current jump, traders should keep in mind that as long the price of XRP is below $0.60, bears will continue to control the price movement.

Technical analysis for Ripple (XRP)

Important support & resistance levels for Ripple (XRP)

Important support & resistance levels for Ripple (XRP)

On this chart (the period from November 2023), I marked important support and resistance levels that can help traders understand where the price could move. The price of Ripple (XRP) remains under pressure, but if the price jumps above $0.60, the next target could be resistance at $0.70. On the other side, if the price drops again below $0.50, which represents important psychological support, the next target could be $0.40 or even below.

What speaks for the rise in the Ripple (XRP) price

Ripple’s Chief Legal Officer, Stuart Alderoty, predicts that in 2024, the last bit of the SEC’s misguided lawsuit against Ripple will finally come to an end which will positively influence the XRP price. The overall sentiment on the cryptocurrency market also plays a crucial role in XRP’s price trajectory, while XRP’s ability to maintain above $0.50 support is an encouraging sign, and it could potentially act as a strong foundation for a price bounce. A move above $0.70 would be beneficial for the bulls to take control of price movement.

What indicates further downfall for Ripple (XRP)

The downfall of XRP can be influenced by a wide range of factors, including negative rumors, market sentiment, regulatory developments, technological advancements, and macroeconomic trends. The highly volatile nature of the cryptocurrencies may scare investors again to sell XRP if some negative news happens in the cryptocurrency market and because of this, investing in XRP involves a significant degree of unpredictability and substantial risk.

What do analysts and experts say?

Crypto analysts expect Ripple to strongly challenge the SEC’s proposed remedies and say that Ripple may leverage recent legal victories and regulatory developments to bolster its case. It is also important to mention that Ripple Chief Legal Officer Stuart Alderoty emphasized the importance of the recent victory in the SEC v. Govil case, which established that if a buyer does not incur financial loss, the SEC cannot claim disgorgement from the seller. In the days ahead, market sentiment and regulatory developments will continue to have a major influence in determining the price of Ripple (XRP). Keep in mind that the cryptocurrency market is highly dynamic; it can experience rapid falls, and it’s essential to conduct thorough research, stay informed about market developments, and be aware of the risks associated with investing in cryptocurrencies.

Disclaimer: Crypto is extremely volatile and not suitable for everyone to invest in. Never speculate with money that you cannot afford to lose. The information on this site is presented for educational purposes only and should not be construed as investment or financial advice.

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