XRP Sees Gains and Breaks Bearish Pattern
Like many other cryptocurrencies, XRP is experiencing positive price movement, with a 3% gain today. Recent price movements indicate a potential break from the bearish pattern that XRP has been in for the past few weeks.
Possible Upswing to $0.65 or $0.66
An analysis by cryptocurrency expert Ali Martinez suggests that XRP may be breaking out of the descending parallel channel it has been in since early November. This breakout could lead to a potential upswing in the near future, with a target range of $0.65 to $0.66.
Evernode Launch and Airdrop
The upcoming launch of Evernode, a Layer 2 smart contract platform on XRP Ledger (XRPL), could further support XRP’s price increase. The launch is set for December 18, following an airdrop for eligible XRP holders on November 27.
Ripple’s Courtroom Standoff
Ripple, the creator of XRP, has achieved a partial victory in its legal battle against the United States Securities and Exchange Commission (SEC). The judge ruled that retail XRP sales by Ripple did not constitute securities sales.
Hot Take: XRP Poised for Growth with Positive Developments
XRP’s recent gains and potential breakout from its bearish pattern, coupled with the upcoming launch of Evernode and Ripple’s legal victory against the SEC, suggest that XRP is well-positioned for growth. These positive developments indicate a promising future for the cryptocurrency.
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