Ripple Price Trades Sideways: Time To Buy XRP Before Rise?

• Ripple Price Rises Slightly After A Steady Decline From Monthly High
• Ripple Motion Filed To Expose SEC staff XRP Holdings Could Further Complicate Price Movements
• Crypto Market Still In A State Of Flux With XRP No Exception

The Ripple price has seen a slight rise over the past 24 hours rising from a low of $1.10 to $1.12. Although the market appears staid, it seems that XRP is well supported at the $1.10 level although developments could cause a wild swing up or down.

Ripple’s battle with the SEC continues with a new motion that’s bound to cause some consternation. In fact, Ripple has filed a motion to find out if any SEC employees are trading XRP or have any holdings in Ripple. The Securities and Exchange Commission maintains that Ripple is not a security. It will be interesting to see how this pans out in the ongoing 4 year plus legal battle between Ripple and the SEC and if the price will be affected one way or another.

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Short Term Prediction For Ripple Price: A Period Of Consolidation Before A Move Forward

The Ripple price appears to be in a period of consolidation after having appreciated by over 100% sice July 20. In fact, XRP was up by 110% from a low of $0.53 on July 20 up to the $1.33 mark on August 15. Since then, it has lost around 12% from that price level and has fluctuated mostly between $1.12 and $1.20 with occasional bursts and drops.

If a bullish thesis were to come into play, one can expect the Ripple price to regain the $1.15 level quite fast before a push to the $1.20 mark. If even that level drops then an upswing of around 30% could be a possibility all the way up to the $1.55 level where strong resistance should be encountered.

On the other hand, if a bearish thesis comes into play, then the Ripple price will undoubtedly test the $1.10 level. If a selloff occurs and the price does not hold, a descent to the $1.00 mark could be possible. However, a general crash in the whole crypto market would have to occur for that to happen.

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Long Term Prediction For XRP: Still Bullish Although SEC Case Remains an Issue

We have seen one of the largest recoveries in the XRP price over the past month with the 110% rise from July 20 to August 15. However, the recent instability in the cryptocurrency markets as well as the ambiguity over the XRP/SEC case continue to affect Ripple’s ability to move forward.

Long term, the outlook for the Ripple price remains quite bullish. Some analysts are predicting the $2 level by the end of the year, although as always, a number of obstacles remain. This price level is still a long way away from the $3.50 reached by XRP in 2017 though.

Where to Buy Ripple

If you want to purchase Ripple, you can do so on the following exchanges:
• eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
• Binance
The other platform where you can buy Ripple is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.

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