Ripple(XRP) Price Primed to Hit Double-Digit Figure, Are the Legal Barriers Set To Ease

Ripple(XRP) Price Primed to Hit Double-Digit Figure, Are the Legal Barriers Set To Ease

The post Ripple(XRP) Price Primed to Hit Double-Digit Figure, Are the Legal Barriers Set To Ease appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The XRP price after providing a perfect buying opportunity, a couple of days before is yet again attempting to jump towards the next resistance levels. Despite a notable bullish divergence on the XRP chart, yet the uptrend needs to be confirmed. The confirmation of the uptrend will be when the price smashes the $1 mark and sustains without dropping down. 

The XRP price may very soon go parabolic in order to range close to the yearly highs close to $2. Currently the asset appears to be extremely poised, yet again the volume remains the barrier. However, the possibilities remain high as the asset is following a notable uptrend line and the recent bounce validated the strength of the rally. 

As displayed in the chart, the 100-day MA is slowly heading towards the 200-day MA and hence this is when the indicator will signal a ‘buy’. Further with a huge influx of liquidity, the XRP price may get could resume with the bull run very soon. Moreover, some of the other factors are also contributing towards the XRP price surge. 

• The positive outcome of the Ripple vs SEC that may relist the asset on the exchanges in U.S.A. And this may inturn boost up the XRP price

• The rise in the DAA(Daily Active Address) is the major factor of the upcoming rally as it may uplift the price in the times of depleting volume

• The address holding 1 million to 10 million XRP withnessed a growth of nearly 18% registering 3.32 billion tokens held. This may point out towards the institutions continuing to accumulate XRP expecting a phenomenal growth in 2022

• Ripple continues to work to strengthen its fundamentals and establish its significant presence in the European & in the middle east while striving in the eastern hemisphere.

Overall,Ripple being distinct from the current market trend and the regulatory hinderance continues to build more effective network. The company aims to offers a powerful payment transfer system at affordable rates.

Therefore, with growing fundamental and the positive market settlements amis the regulatory clearance off the Ripple vs SEC case, XRP price is expected to gain huge upside trajectory in the coming days.