XRP price: Prospects for the token in the long term
XRP price: Prospects for the token in the long term
The XRP cryptocurrency was trading at $0.48 last week. Earlier, optimistic investor sentiment amid certain successes in the confrontation with the U.S. Securities and Exchange Commission (SEC) increased the value of the asset.
The court ruled that the sale of XRP on the secondary market does not constitute an investment contract – news that the market clearly took as a positive. Since then, however, XRP has lost most of its gains and has fallen below $0.5.
Over the past week, the price of XRP has increased by 5.91% and the token is currently trading at $0.510140.
The value of the asset has fallen 0.9% over the past 24 hours, as the cryptocurrency market is experiencing bearish sentiment amid the Fed meeting and deteriorating quarterly inflation forecasts. However, long-term crypto investor sentiment remains bullish, with analysts believing that XRP could reach $0.6 in 2024.
Technical indicators signal moderately bullish market sentiment for Ripple at 61%. The fear index shows a level of 47, which is neutral.
XRP's market capitalization remains at $27,159,869,207.
Read also: ETH price has started a bearish move.
