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  • 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:
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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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