Ripple price forecast for 2021

can XRP, since its legal dispute begins with the SEC in favor of Ripple, finally recaptured third place?

In addition to Bitcoin and Ethereum,

ripple has been part of a triumph of massive cryptocurrencies alongside Bitcoin and Ethereum. This may no longer be the case because other cryptocurrencies have overtaken ripple in recent years.

But Ripple remains one of the most famous cryptocurrencies and was already supported by several banks and financial institutions due to its credibility in cross -border payments. This means that Ripple is still firmly anchored in the top 10 cryptocurrencies in the world and the token has attracted billions of dollars of investments.

Therefore, in this article we will evaluate the commercial prospects for Ripple in 2021, after a successful, albeit dramatic phase for cryptocurrencies in general.

current ripple price

Ripple has already experienced an eventful year 2021 and achieved a top price of over $ 1.80, which corresponds to almost 9 times the price at the beginning of the year. The token has corrected some value since then, but has still had an excellent trading year.

ripple ran against the stream of many other cryptocurrencies in 2021 and has gained value in a general mini-bear market. However, this is not the first time that this is the case, since Ripple has a different ethos and a different direction than some of the other major cryptocurrency projects.

One of the problems that have affected Ripple's loss of value in 2021 is the SEC lawsuit against Ripple Labs-the developers of the tokens. The Securities and Exchange Commission has initiated legal steps for digital assets that are not registered for digital assets. The SEC recently made an application in which the chairman of the proceedings are requested to extend the deadlines for the determination of facts and experts by 60 days.

Source: Münzbasis

This undoubtedly led to a certain uncertainty in relation to Ripple, although 96% of all SEC cases are settled before the legal proceedings and many believe that the case will never be close to a court. Regardless of this, the case will create a significant precedent for the cryptocurrency ecosystem worldwide, and the ongoing legal dispute is of course extremely closely observed.

As a result of the problem, the price of Ripple has fluctuated a little, with the dealers being unsure about the future direction of the currency. Ripple has recently had a small relaxation, but his growth has remained behind some of the other cryptos in this area, such as Dogecoin and Binance Coin.

Many market observers have stood on the Ripple's SEC legislation, and the long-term effects of this problem could ultimately be rather low. It is also positive that Ripple has already built strong relationships with many aspects of the mainstream financial architecture. With many of the The case for the past few months, the case for XRP Bullisch could become.

ripple price forecast

Technical analysts have found that the current ripple price movements for the token will be particularly interesting in the future. Ripple recently made a profit of 15% on a single day, which obviously indicates that the bear market goes back for this token.

However, there are also some mixed messages. The daily active addresses of Ripple decreased by almost 50,000 by 83% compared to the maximum of April 12th. This indicates a declining interaction and activity in connection with the token, which can tend to lead to reduced trading volumes. The network growth of Ripple from 12,373 on April 19 to 3172 decreased as of May 31; A decline of over 70 %.

Source: Münzbasis

Nevertheless, technical analysts have found that the latest trade pattern for Ripple indicates that it achieves a position of fundamental support. In this scenario, its current price would effectively form a basis for the token on the market, and it would begin to move up and to recapture its maximum value.

Apparently the outcome of the SEC case is considered critical of the future of Ripple, although most market observers assume that this will be quite cheap.

ripple Price Discovery in June

In the latest trade, the Ripple Prize has experienced a significant resistance at the level of USD 1.10. This is significantly lower than the maximum value achieved at the beginning of this year, which indicates that Ripple has encountered some trade difficulties.

However, analysts believe that if the token can break through this psychologically important barrier, its value will probably increase significantly, with a short -term price target of just over 1.30 USD. This could be achieved relatively quickly and would mean a 26%increase in value of Ripple in a relatively short time.

Another optimistic factor for Ripple is the 30-day model of the market value for realized value-an index that is used to measure the average profit and loss of investors that Ripple bought last month. This currently indicates that Ripple is located in an opportunity zone and that investors may be able to buy the tokens.

This offers long-term investors the opportunity to acquire ripple tokens at a low market price. From a technical point of view, Ripple's price is currently in a safe zone, although the value will probably not decrease significantly in the near future. This is certainly a purchase opportunity for those who believe in the long -term credibility of the tokens.

The macroeconomic image for the planet should also be taken into account, and this remains complex and nuanced. Although there was a certain economic recovery, it is undoubtedly insecure and unstable, which means that cryptocurrencies could remain excellent raw material investments in the coming months. Certainly cryptos clearly benefited from the financial climate in connection with the covid pandemic and the associated blocking.

cryptos also begin to recover from the comments of Elon Musk, the CEO of Tesla, who caused some chaos in the cryptocurrency area with his criticism of the power consumption associated with Bitcoin. Now that the dust has subsided about these comments, we can assume that the most important cryptocurrencies will recover in the coming months.