XRP Shows Resilience Amid SEC Appeal: Experts Bullish on Altcoin’s Future

XRP Shows Resilience Amid SEC Appeal, Analysts Bullish on Price

XRP, the popular cryptocurrency, has shown remarkable resilience in the face of significant selling pressure following the SEC’s announcement of its intention to appeal. Despite testing a low of $0.5101 earlier this week, XRP has swiftly recovered and is currently trading at $0.5324. While the crypto is still nursing a 9.5% loss in its weekly performance, market watchers remain optimistic about its future trajectory.

Market analyst ModernInvest has expressed confidence in XRP’s potential, stating that it would be unusual for the crypto to fail to reach at least $20 given the momentum in the XRP ecosystem. Additionally, popular figure BitBoy has praised the development of Bitwise filing for an XRP ETF, calling it a potential “game changer” for the crypto.

BitBoy has also updated his list of top altcoin picks for the current bull run, emphasizing the importance of reshuffling picks based on market developments. He believes that if the XRP ETF is approved and Ripple proceeds with an IPO plan, XRP could maintain its position as a leading altcoin in the current cycle.

The speculation of a potential cross-appeal in the Ripple SEC case by Ripple CLO Stuart Alderoty has further fueled optimism in the market. XRP’s price has soared amid these speculations, with the crypto touching a high of $0.5384 and a low of $0.5172 in the last 24 hours.

Investors are closely monitoring the legal battle between Ripple and the SEC, with many remaining bullish on XRP’s price potential. Despite the recent challenges, XRP continues to demonstrate resilience and remains a top contender in the cryptocurrency market.