As the SEC appeals XRP, analysts predict a potential rise to $3 by Christmas, fueled by whale investments and ongoing legal challenges—can XRP soar even higher in these uncertain times?
Ripple’s cryptocurrency, XRP, is getting a lot of attention today. Positive predictions and big investors, called whales, are making people excited about the market. While Ripple fights its legal battle with the U.S. Securities and Exchange Commission (SEC) XRP’s price has stayed strong. This has made investors feel hopeful and excited.
Some predict that the price could go up to $3 by Christmas because of Ripple’s ongoing case. Because of this, people in the market are closely watching big investors (whales) and updates about the law.
SEC Appeals XRP: Ongoing Legal Battle Heats Up
The SEC has filed to appeal against Ripple. They are challenging a judge’s decision. The judge said Ripple’s sales of XRP to regular customers are legal. The SEC thinks the judge was wrong. This notice comes after Judge Torres ordered Ripple to pay a $125 million fine in August, which is much less than the SEC’s request for nearly $2 billion.
Ripple CEO Brad Garlinghouse said that the SEC “lost on everything that matters,” which makes it clearer that XRP is not a security. The SEC has not filed its appeal yet, so the battle between Ripple and the SEC is still going on. Even so, Ripple seems strong, and many people are hopeful about XRP’s future in the market. This positive feeling is shown by Bitwise’s recent application for an ETF that will invest in XRP.
XRP Whales Accumulate 47M Coins Amid SEC Appeals XRP
Recently, Ripple Whales bought a large amount of XRP. They purchased a total of 47 million XRP. Whale Alert, a tracker for blockchain activity, reported this. Two big transactions happened on September 30.
In these transactions, one whale wallet, rB2uUZQCjo, received 31 million XRP worth $19.79 million from the crypto exchange Upbit. Another wallet, r4186vVNuH, got 16 million XRP valued at $10.31 million.
This big whale activity has created hope in the market, with many people seeing the buying as a sign that they believe in XRP’s future price. While there are still legal worries about the SEC possibly appealing, XRP investors are paying close attention. Even though the SEC might appeal the Ripple lawsuit, the community is getting ready for the token’s next big move.
Analyst Predicts XRP to Hit $3 by Christmas.
Amid the activity from big investors, a well-known crypto analyst, Myles G Investments, has confidently predicted that XRP could reach $3 by Christmas. In a recent post on X (formerly Twitter), Myles G wrote, “XRP $3 by Christmas. Laugh now. Cry later.” This means he believes that XRP’s current price might be the start of a bigger rise in value.
When asked if this would be the highest point of the market cycle, the analyst confidently said that it could be just the “bottom of the bull cycle.” This suggests that there might be even higher gains in the future.
Myles G’s prediction has started many talks among investors. They are asking if XRP can rise a lot in the next few months. After XRP went above $0.66, many people felt hopeful. They think the price will keep going up, especially as good feelings grow in the crypto market.
Ripple Balances Price by Releasing 1B XRP, Why Is XRP Down?
Why Is XRP Down? Ripple recently released 1 billion XRP from its escrow wallet, causing the price of the cryptocurrency to drop by 15%. This large release has worried investors because adding such a big amount to the total supply could affect its value.
According to Whale Alert, the release happened on October 1, 2024, through three separate transactions that totaled $621.76 million. After this release, XRP’s price dropped to $0.6214, with a low of $0.611 and a high of $0.6524 in the last 24 hours.
Why Is XRP Down? XRPs Future Price Outlook
Right now, XRP’s price is about $0.56, which is a big drop from its recent high of $0.66. This means it has gone down by about 15.15%. One reason for this decline is the ongoing SEC appeals against XRP. Market changes, how investors feel, and news about regulations can also affect the price. Knowing these reasons can help investors make better choices during this time of uncertainty.
Crypto market analysts are closely watching XRP’s next steps, with some expecting it to reach $1 soon, especially if the bullish sentiment continues.
The Impact of the SEC Appeals XRP Buying
The looming threat of a U.S. SEC appeals XRP continues to hang over the Ripple community. Recently, attorney Fred Rispoli stated there’s a 60% chance that the SEC will file an appeal.
Ripple president Monica Long believes that the lawsuit is mostly over and that Ripple has gained a lot of clear rules from regulators. However, the possibility of an appeal could cause some short-term ups and downs in XRP’s price.
An ex-SEC lawyer has said that the agency might have a big advantage if it decides to go ahead with an appeal. This could change how investors feel in the short term.
Who can predict XRP’s future Price?
As we get closer to the end of 2024, people in the market are watching how XRP is doing. They are especially interested in the buying activity from big investors, positive price predictions, and news about legal matters. The upcoming months will be crucial for XRP, with many hoping that Myles G Investments’ prediction of a $3 price by Christmas will come true.
The SEC appeals XRP might create some uncertainty for now. However, XRP has strong market factors. It also has more big investors and a lot of hope from regular investors. This means XRP could see big gains. Whether it goes up to $3 or grows steadily into the new year, XRP will be one of the most watched cryptocurrencies in the market.
SEC Appeals XRP: Final Thought!
Ripple’s XRP is still getting a lot of attention in the market. There are predictions that its price could surge to $3 by Christmas, and big investors have recently bought 47 million XRP before a possible SEC appeals XRP. With both positive and careful feelings about the token, investors are closely watching legal updates and market changes as the year comes to an end.
The coming months will reveal whether XRP can meet the ambitious $3 target or face challenges from regulatory hurdles. For more SEC Appeals XRP and Why is XRP down news and updates stay tuned with CoinMozo on X.
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