XRP Price Eyes 30% Upside After Key Resistance Area Breaks
XRP has seen a 60% increase in the first quarter of 2023, driven by Ripple's legal win against the SEC, and the overall bullish sentiment in the cryptocurrency market. The XRP/USD pair is expected to continue its gains in the second quarter, primarily due to a bullish continuation pattern known as a bull pennant. The pattern forms when the price consolidates inside a symmetrical triangle after undergoing a strong rally. A bullish target of $0.65 in Q2 for XRP price is predicted, up approximately 30% from current levels. However, a decisive close below the pennant's lower trendline could invalidate the bullish setup and increase the probability of testing the 50-day exponential moving average (50-day EMA).
XRP Wallet Xumm Launches Web-Based Decentralized Exchange
Xumm, the self-custody wallet developed by XRP Ledger (XRPL) Labs, has launched unhosted.exchange, a new browser-based decentralized exchange on the XRP Ledger. The DEX will be fully operational and exclusively available to Xumm Pro users in an early access stage, with availability to the general public in May. The XRPL native DEX does not have a web version, presenting a limitation for users who wish to access it through their browsers, and unhosted.exchange is the answer to this issue. Users can buy, sell and trade any asset on XRPL without the need for a central authority, with all processes coming with no extra fees from Xumm. The launch is part of Xumm's efforts to enhance trading on the XRP Ledger for users.
XRP Addresses Holding at Least $100K Surge Above 13K
XRP, a cryptocurrency, is experiencing a surge in investor interest, as evidenced by a steady increase in wallet addresses holding at least $100k worth of the asset. According to data from Coin Metrics and Messari, the number of these addresses has risen above 13,800 this year, with addresses holding at least $1 million and $10 million also seeing significant growth. The increase in addresses comes amid a recent rally in XRP's price, which has gained by over 38% in the past month. Additionally, XRP supporters are anticipating a win for Ripple in its ongoing lawsuit against the SEC, which could further boost investor confidence in the asset. As XRP continues to trade above the $0.51 price point, analysts suggest that a weekly close above $0.50 could lead to a rally towards $1.
Attorney Jeremy Hogan Believes SEC Will Not Appeal If Ripple Wins XRP Lawsuit
According to the founder of Hogan & Hogan law firm Jeremy Hogan, the U.S. Securities Agency would not appeal if Judge Analisa Torres rules the XRP lawsuit in favor of Ripple and its top executives Brad Garlinghouse and Chris Larsen.
Crypto Whales Move 214 Million XRP As Ripple Lawsuit Ruling Closes In
XRP, the native cryptocurrency of Ripple, experienced a slight decline as the broader digital market saw a sell-off, coinciding with U.S. financial regulators launching legal attacks on several crypto exchanges. Despite this, crypto whales were caught moving millions of XRP between wallets and exchanges. WhaleAlert reported that over 214 million XRP tokens, worth approximately $107 million, were moved by whales in multiple transactions over the past 24 hours. Some of these tokens were transferred to different crypto exchanges in order to book profits, with the largest transaction being 98.6 million XRP, worth approximately $50.8 million, moved between unknown wallets. XRP has seen a surge of 37% in the last 30 days.
New York-Based Crypto Exchange Uphold Says It Never Delisted XRP
New York-based crypto exchange Uphold has disclosed that it never delisted XRP from its platform. The exchange took to Twitter to state that it strongly backed the XRP community despite the prolonged lawsuit between Ripple and the SEC.
