The price of Ripple (XRP), one of the popular altcoins, which has been shaken by the litigation process with the SEC, is following a horizontal course on Saturday. XRP, one of the altcoins that got its share from the new statement published by the People’s Bank of China for cryptocurrencies, declined from $ 0.99 to $ 0.86. At the time of writing, forecasts and technical charts continue to come from analysts about the XRP price, which is at $ 0.94.
Sergio Goschenko, an experienced crypto analyst, underlined that it is very important and critical for the XRP price to reach the $ 1 level. Stating that the priority and most important target of the price of the popular altcoin is $ 1, Goschenko said that if the $ 1 level is broken, the new destination can be $ 1.20. Goschenko stated that if these levels are seen, new highs for the XRP price are quite likely within 1 month.
Another prominent analyst, Bob Mason, also shared his situation and expectations regarding the XRP price. Emphasizing the importance of the $1 level, Mason stated that the $0.94 support should be preserved:
“Ripple’s XRP will need to retrace over the $0.9446 pivot to bring the first major resistance level at $1,0019. However, Ripple’s XRP will need support to return to the $1.00 levels.”
“In the case of a broad-based crypto rally, Ripple’s XRP could test resistance at the 38.2% FIB of $1,0659 before any pullback. The second major resistance level is $1,0602.”
Despite the months-long and highly contentious litigation process with the SEC, giant blockchain company Ripple continues to expand and evolve. According to the statements, the company continues to work on the NFT field, which is the latest product of blockchain technology and has a large audience. Ripple’s developer arm, RippleX, announced on its official social media account that they provided a total of $2 million in support to 25 projects from 10 countries that will develop the XRP ecosystem. In the announcement, it was stated that a significant part of the projects mentioned were on NFT. It was also stated that the company would accelerate its work on the NFT field.
Introducing the awardees of the inaugural #XRPL Grants Program! Learn why 25 grantees from 10+ countries were granted ~$2M to build innovative new projects on the #XRPLedger: https://t.co/SE0pZqwEas
— RippleX (@RippleXDev) September 23, 2021
*Does not include investment advice.
