Key Takeaways
- Grok AI speculates that the XRP vs. SEC resolution is good for the project, giving it more promising prospects.
- XRP’s long and short liquidation points adjusted following porcelain to a region of $2.4 and $2.62, respectively.
- Market sentiment for XRP is bullish following its recent lawsuit resolution, which has lasted for over 5 years.
After years of back-and-forth with the US SEC (Securities and Exchange Commission), Ripple’s CEO, Brad Garlinghouse, dropped one of the most anticipated news in the crypto space for months now: the US SEC agreeing to drop the XRP lawsuit. This news sparked excitement, and the price of XRP has been breaking its key resistance of $2.5 for weeks now.
This news not only boosts Ripple’s (XRP) ecosystem but also represents a collective fight won by the crypto space. It demonstrates the team’s resilience and commitment to ensuring the crypto space continues to gain recognition and adoption as a major solution to financial issues plagued by the traditional financial system.
Grok AI Weighs In On Future Of XRP After US SEC Lawsuit
Grok AI responded to the recent developments in Ripple’s (XRP) lawsuit: The future of Ripple’s (XRP) lab is looking bright and promising following the recent developments in its legal battle with the US SEC. Brad Garlinghouse stated that this news will greatly boost the crypto industry in fighting other legal battles and set the pace for other upcoming projects.
Grok AI also stated that the recent news aligns with the broader pro-crypto sentiment of the US administration and adoption from top financial institutions as organizations would be looking to leverage XRP as a payment method due to its low transaction fees and fast payment method.
Another huge turning point many crypto experts and investors are looking forward to is the approval of the XRP spot ETF (Exchange-traded fund), which will allow many investors to gain exposure to XRP, thereby driving more price potential to the upside.
Grok AI further speculated on the price of XRP based on the following criteria: short-term, medium-term, and long-term price outlooks. Based on Grok’s XRP price prediction, the price could trade to a high of $5, $8-10, or $100-$150 for a highly optimistic view of XRP when its ETF is approved and in the long term.
On-chain Analysis Of XRP Price
Source – XRP Liquidation Heatmap From Coinglass
Following the recent news favoring XRP, the price saw a giant leap from a region of $2.3 to a high of $2.55, breaking above its daily resistance. This has prevented the price of XRP from rallying to the upside, as the price could rally towards $3.
Liquidation zones aligning with support and resistance areas have also adjusted accordingly following XRP movement, as long liquidations stay around $2.4 and short liquidations around $2.62.
A break above the region of $2.62 could see more price gain to the upside, as XRP’s weakness continues to look promising for its price and the crypto market.
Key Support Zone For XRP – $2.2
Key Resistance Zone For XRP – $3
