The crypto space is all geared up for its leg-up this fourth quarter. Several coins in the market have outperformed their targets, with the start of Uptober. The market cap of the industry at press time stands firm, with steady gains at $2,589,881,510,260.
While the trading volume for the last 24-hours is at $119,704,920,223. Meanwhile, XRP struggles to rebound on the charts, owing to its shrinking presence in the U.S. As a result of its legal tussle with the U.S SEC.
Ripple Is Holding Firm to High Tides!
Crypto proponent highlights the movements of XRP on the charts, where-in the structures look like mirror reflections. Except for the fact that the consolidation from the present case scenario is larger and longer. The analyst also highlights that, consolidation precedes expansion, and that consolidation is directly proportional to the expansion that follows.
Another analyst expects the move towards the $10 milestone, could follow more consolidations and expansions. And that, the coin might leg-up towards its ATH, this rally. Meanwhile, netizens expect the coin to reach its new ATH in the range of $4 to $5.
On the contrary, Ripple is in opposition to SEC’s request to extend the expert discovery to the 14th of January. As the delay would further freeze its market in the U.S. The claim is justifiable, as XRP is beating the cold since December of 2020. With December of this year around the corner, it would be a year of beating the odds for the platform.
XRP Price Analysis
XRP at press time is trading at $1.09 with gains of negligible 0.1% for the last 24-hours. The market cap of the digital asset is $50,970,708,997. While the 24-hour trading volume is at $3,665,454,140. The coin needs to surge 3X to hit its previous ATH of $3.40.
From the chart, it is understood that XRP has been moving along the bottom of the Bollinger band. Indicating the presence of bears along with their movements. Trading volume can be seen fluctuating currently. The digital asset has dipped about ~16.3% previously, and a similar pattern formation can be seen. However, we can notice the price attempting to resist its crucial zones and rebound.
While traders looking to buy XRP price can look for its entry zone of ~$0.88, to yield decent gains. If things prevail in favour of the coin, it might hit $1.80 in the short term. And a major milestone of ~$5 with its legal tussle subsiding. A positive update from the Ripple vs SEC case may fuel the bull rally. On a positive note, some reports suggest that XRP has ranked #1 crypto asset in the U.K.