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Заголовок What’s Next for Ripple (XRP) Price Following the SEC Appeal, Bitcoin (BTC) Resurgence, and More: Bits Recap Oct 7
Дата 20241007

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What s Next for Ripple (XRP) Price Following the SEC Appeal, Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin)
Resurgence, and More: Bits Recap Oct 7

What s Next for Ripple (XRP) Price Following the SEC Appeal, Bitcoin
(BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin
) Resurgence, and More: Bits Recap Oct 7

Author: Dimitar Dzhondzhorov

Last Updated Oct 7, 2024 @ 08:15

XRP recovered to around $0.54, while BTC and ETH are also well in the green
today (October 7).

TL;DR

The SEC s continued legal action caused a temporary drop in XRP’s price,
but analysts remain confident about its long-term outlook.

BTC rebounded to over $63,500, with bullish predictions for a potential rally
toward $100,000 and beyond.

ETH recovered to nearly $2,500, with analysts forecasting a move to $2,800
amid reduced exchange reserves.

XRP s Ups and Downs

The US SEC s decision to continue its legal battle with Ripple has been
among the top-trending topics in the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта space as of late . Recall
that the agency appealed a 2023 verdict set by Federal Judge Torres. Back
then, the magistrate ruled that secondary sales of XRP did not constitute
securities sales. The regulator had until October 7 to contend, filing its
documents mere days before the deadline.

Unsurprisingly, XRP s price reacted negatively following the news. It
plunged by double digits to as low as $0.51 on October 3. In the following
days, the token traded somewhat sideways before registering a mild rebound in
the past 24 hours. Currently, it is worth around $0.54 (per CoinGecko s
data), representing a 2% increase on a daily scale.

XRP Price, Source: CoinGecko

The asset s poor performance seems to have not changed the bullish
attitude of numerous cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта analysts. The popular X user Dark Defender
claimed that nothing has changed for the firm and its native
token after the latest development in the case.

The SEC appeal is a pure blunder and will separate the 1% from the
entire population with a poor mindset. The price is not dependent on this
lawsuit, as we analyzed before, they added.

BTC is Back on the Green Track

XRP was one of the many cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта heading south last week. Bitcoin
(BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin
), for example, briefly dropped to $60,000 on October 2 following the
reports of the escalating conflict in the Middle East.

BTC Price, Source: CoinGecko

However, it entered a recovery phase in the past few days and is currently
standing at over $63,500. Despite the enhanced volatility, BTC is up
approximately 50% year-to-date (YTD), and many industry participants envision
further gains.

The X user Sensei spotted the emergence of a potential bull flag
breakout on the price chart, which could be a precursor to a rally
toward a new all-time high of $100,000.

OxNobler was optimistic, too, arguing that every major bull run has
historically started in October. The next target for BTC is $260,000,
and many alts will follow the lead, the analyst assumed.

How s ETH Doing?

Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) also underperformed last week, falling to nearly $2,300. Its
current price condition , though, looks much better, trading at almost $2,500.
ETH Price, Source: CoinGecko

The X user EliZ believes ETH may soon rise to the resistance level of $2,800,
while some on-chain metrics also suggest a possible spike.

Exchange reserves, for instance, have been on a downfall lately. This could
indicate a shift from centralized platforms toward self-custody methods, hence
a reduced immediate selling pressure.

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Tags: Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) Price Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) Price Ripple (XRP) Price

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