Ripple XRP may surge to $0.60 following a positive ruling in the SEC case and the upcoming Bitcoin halving. The ongoing Ripple Labs/SEC trial and its outcome will be crucial for the future of XRP and the entire cryptocurrency field.
Ripple must submit its opposition to the SEC’s remedies-related brief by April 22. Furthermore, the upcoming Bitcoin halving event is scheduled to occur this week. The halving will impact the price trajectory of XRP and other cryptocurrencies. However, if Ripple Labs gets a positive response from the court to its brief, XRP may begin its rise back above recent bearish trends.
At press time, XRP is trading at just under $0.50. The asset has sunk in price in a recent bearish market. However, experts are optimistic that these two events will positively impact XRP. Analysts at Forex suggest XRP will experience a robust increase of 2.50% from the current trading price up to $0.5154. If XRP maintains above this pivot, it may encounter immediate resistance at $0.53970, followed by higher resistance levels at $0.56610 and $0.58970, which could cap further gains.
On the other hand, it is also possible that XRP could sink further in the opposite direction, albeit unlikely. Should XRP drop below the pivot, significant support can be found at $0.49260, with additional lower supports at $0.46310 and $0.41750. The RSI of Ripple XRP is showing neutrality, but sinking below $0.51 would mean a much steeper hill for the asset.
The Bitcoin halving event will see the circulating supply of the digital asset sliced in half. Therefore, the value of the assets will surge, which should impact the overall digital asset market.