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XRP is Rallying and Outperforming BTC and ETH

XRP is Rallying and Outperforming BTC and ETH

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XRP is reaching the point of surpassing major league crypto players like Bitcoin and Ethereum. The recent 27.55% rally has the crypto crowd asking questions about what the near future holds for XRP.

Let’s take a look at XRP’s price performance over the past week and its upside potential based on this data.

XRP price last week

XRP has been in a continuous uptrend over the past week. It started at $0.33 on August 17 and continued its active rise on the chart. The initial increases were marginal and were associated with simple bullish actions that had no impact. However, the wheels started turning on September 19.

XRP price rose from $0.38 to $0.34 and rallied for a day before the rally. That “accumulation and rise” gave the price almost a step line pattern. Then on September 22nd, the price went up massively to $0.44, followed by another rise to $0. 53.

At this 27.55% ally, XRP is trading above a key long-term resistance level and the market is completely in the green.

Bitcoin and Ethereum continue to disappoint

XRP’s price action right now is truly unique. In other words, it does not follow the trend line of other major altcoins, as is usually the case in the crypto space. Bitcoin and Ethereum are currently on a roll, experiencing only marginal, lower single-digit gains within 24 hours, but the trail is also strong later.

XRP, on the other hand, went through a 45 percent weekly gain. The reason for this current price action is likely to be the recent SEC vs. Ripple case where the public is hoping for the best.

Ripple Labs filed for summary judgment in the case on September 18thhoping to get a quick solution to the case pending in 2021.

Summary judgment is a legal process where the final decision is based on the facts and does not include the ordering of the tile.

That would speed up the process, and we’ll probably know if XRP should be considered a security by mid-December of this year.

This tension has led to major consequences for this particular cryptocurrency, which has not been discussed much in trading circles.

XRP Price Prediction – Long term gains are likely to come

The Security Exchange Commission’s decision to rule on its safety has long-term implications for other cryptocurrencies. And that means long-term gains may be on the way.

If you haven’t set yourself up yet, it might be a good idea to wait until the token’s 200-day moving average of $0.48 turns into support. Other crypto experts have stated that it would be better to extend $XRP lower and avoid FOMO.

More on XRP

Launched in 2021, the XRP Ledger is a decentralized, open source and permissionless technology that enables low-cost transactions at high speeds. It has inherently green features – it is carbon neutral and energy efficient – ​​and is the first to build DEX and token customizations into the protocol itself.

The current, almost effortless upward trend in prices can create false hope in many people. Therefore, experts suggest that it would be better for the verdict to come before seeing if the brand is worth the long-term benefits. If the decision declares Ripple as security, a a quick trend reversal is possible.

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