XRP Price Prediction: What to Expect in the Next 48 Hours

• The price of Ripple (XRP) climbed more than 2% over the past 24 hours, taking the altcoin’s price to $0.4828.
• XRP recently broke out of a wedge pattern on its daily chart, suggesting it would soar to $0.5 soon.
• Traders and investors will want to wait for a daily close above $0.4899 before going long on the altcoin.

The ongoing XRP SEC case has been the subject of intense speculation and conjecture, especially when it comes to the potential for an XRP settlement. However, recent statements made by legal expert Jeremy Hogan and Ripple CEO Brad Garlinghouse have added an additional layer of complexity to the already intriguing situation, leaving observers of the Ripple versus SEC lawsuit eagerly anticipating the outcome.

The possibility of an XRP settlement has captured the attention of many who closely follow the legal proceedings. The outcome of this case holds immense significance, as it has the potential to shape the regulatory landscape governing cryptocurrencies in the United States. Presently, the regulatory framework in this area remains incomplete and lacks a comprehensive set of guidelines.

Jeremy Hogan, a prominent legal commentator, has recently shared his insights on the matter. He has introduced an interesting observation he made regarding the timing of XRP case rulings, noting that they seem to occur at approximately nine-week intervals. This prediction emerged following a recent interview with Brad Garlinghouse, the CEO of Ripple. In this interview, Garlinghouse expressed his belief that the resolution of the case would be a matter of weeks rather than months. His remarks were prompted by the latest judgment handed down by Judge Analisa Torres, which brought further attention to the case.

These statements from both Hogan and Garlinghouse have only served to intensify speculation surrounding the potential outcomes of the XRP SEC case. The possibility of a summary judgment or a settlement regarding XRP has become an even more prominent topic of discussion, causing anticipation and curiosity to reach new heights.

As stakeholders and observers eagerly await the resolution of the case, the implications for the wider cryptocurrency industry and the future of regulatory oversight in the United States loom large. The outcome will not only have a direct impact on Ripple and XRP but could also set a precedent and influence how other cryptocurrencies are regulated and treated by the SEC.

XRP Current Market Standing

Ripple (XRP) is ranked as the sixth biggest crypto based on its market cap, according to CoinMarketCap. It experienced a 2.18% increase in price over the last 24 hours, taking its price up to $0.4828 at press time. This also put its total market cap at approximately $25.1 billion.

During this time, XRP had weakened against both of the crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), however. At press time, XRP was down 0.71% against BTC and 0.78% against ETH. As a result, 1 XRP was worth 0.00001723 BTC and 0.0002535 ETH.

The 24-hour increase in XRP’s price had added to its already-positive weekly performance. As a result, the remittance token’s weekly gain stood at 4.17%.

XRP Technical Overview

4-hour chart for XRP/USDT (Source: TradingView)

XRP’s price had recently flipped the resistance level at $0.4792 into support and continued to trade above the level at press time. Technical indicators on the 4-hour chart suggested that the altcoin’s price would continue to rise in the next 24 hours as well.

The 9 EMA line on the 4-hour chart was trading bullishly above the 20 EMA line and was also breaking away from the longer EMA line. This indicated that short-term buy volume was on the rise at press time.

In addition to the bullish orientation of the 9 and 20 EMA lines, the RSI line on the 4-hour chart was trading bullishly above the RSI SMA line. Furthermore, the RSI line was positively sloped towards the overbought territory.

Should XRP’s price remain above the aforementioned $0.4792 over the next 24 hours, it may look to make a move toward $0.5027 in the next 48 hours. Traders’ profit-taking in the next 24 hours will, however, result in a price drop below the recently-flipped level. Should this happen, XRP could fall back down to $0.4438.

Daily chart for XRP/USDT (Source: TradingView)

The altcoin’s price had also broken out of a wedge pattern that had formed on its daily chart. This pattern indicated that XRP’s price would experience a breakout in the days that followed. The fact that XRP’s price broke out above the pattern is a positive sign for XRP holders.

Should the bullish momentum on XRP’s daily chart continue to offer the crypto’s price the necessary support, then it could rise above the next major resistance level at $0.4899. Thereafter, the altcoin’s price will have a clear path to the previously-mentioned mark at $0.5027.

The recent bullish cross of the 9-day and 20-day EMA lines suggested that XRP’s price had entered into a short-term bullish cycle which may result in the altcoin’s price flipping $0.4899 into support in the near future. This bullishness, however, was contradicted by the fact that the daily RSI line was bearishly sloped towards oversold territory.

A confirmation of the bullish thesis will be if XRP’s price closes today’s trading session above $0.4899. On the other hand, a close below this level will result in XRP’s price correcting slightly in the following 24-48 hours and potentially dropping to $0.4532.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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