XRP Price Prediction: As Ripple Token Plunges 8% After SEC Meeting Is Cancelled, A FOMO Frenzy Erupts Around This AI Meme Coin With Just Days Left

The
XRP
price
has
plunged
8%
in
the
last
24
hours


to
trade
at
$0.58

as
of
3.30
a.m.
EST
on
a
7.9%
slump
in
trading
volume
to
$2.05
billion.

The
Ripple
token’s
price
plunge
follows
news
that
the
US
Securities
and
Exchange
Commission
(SEC)
canceled
a
planned
closed-door
meeting
with
Ripple
Labs
on
August
1.

The

#Ripple
vs

#SEC
lawsuit
meeting
for
Thursday
was
canceled.

Makes
sense,
there’s
nothing
else
to
discuss
on
the
internally
orchestrated
lawsuit.

Sunshine
Act
Notice:#XRPhttps://t.co/tqUCQ5sc0j

pic.twitter.com/pL2vb9y6WZ

—
Vandell
|
Black
Swan
Capitalist
(@vandell33)

July
31,
2024

There
had
been
market
optimism
that
the
meeting
might
bring
a
long-awaited
end
to
the
SEC’s
lawsuit
against
the
company.

XRP
Price
Technical
Analysis:
The
Downtrend
May
Be
Short
Term

XRP
is
currently
trading
above
the
upper
trendline
after
dropping
from
its
peak
of
$0.74.
The
struggle
for
price
control
has
led
to
the
formation
of
a
falling
wedge
pattern,
which
often
signals
potential
bullish
momentum.

The
support
zone
at
$0.42
has
reinvigorated
the
bulls,
pushing
the
price
up
and
breaking
above
the
wedge.
This
has
created
a
new
foundation
for
a
potential
bull
rally
ahead.
However
the
bulls
seem
to
ba
facing
a
resistance
at
$0.64
after
the
breakout
above
the
pattern.

XRP/USDT
Analysis.
(Source:
Tradingview)

Current
price
indicators
for
XRP
look
promising.
It’s
trading
above
the
50-day 
and
200-day
simple
moving
average
(SMA),
indicating
a
potential
upward
move
that
could
confirm
an
anticipated
rebound.
if
the
rebound
should
take
place
on
the
50
SMA
it
could
trigger
a
bull
rally
above
the
current
resistance.

The
Relative
Strength
Index
(RSI)
has
rebounded
from
oversold
territory
at
30,
climbing
past
the
50
midline
into
the
overbought
zone
at
77.
however
it
is
currently
on
a
downtrend 
though
it
remains
above
the
50
midline
level
offering
the
bulls
a
chance
to
push
the
RSI 
back
into
overbought
territory.

Additionally,
the
green
bars
on
the
Moving
Average
Convergence
Divergence
(MACD)
indicator
signal
market
positivity,
with
growth
in
both
volume
and
size.
The
recent
crossover
of
the
blue
line
above
the
orange
signal
line,
above
the
neutral
level,
further
supports
confidence
in
the
price
surge
for
XRP.

XRP
Price
Prediction:
Can
The
Bulls
Regain
Momentum?

XRP’s
price
is
on
the
brink
of
a
significant
bullish
rally.
The
falling
wedge
pattern
is
boosting
this
upward
momentum,
with
the
potential
to
push
the
price
to
new
highs
around
$0.7945.

Conversley, 
the
price
could
drop
to
around
$0.55,
coinciding
with
the
200
SMA.
Further
downward
pressure
could
even
push
it
towards
the
upper
trendline
of
the
wedge,
estimated
at
approximately
$0.4859.

Final
Call
For
WienerAI!
Token
Launches
On
Monday

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mixed
signals,
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are
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to
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the
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pic.twitter.com/4LKZnQCR6B

—
WienerAI
(@WienerDogAI)

August
1,
2024

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