Ripple’s XRP is facing a substantial price correction after briefly defying the general market trend. The asset has fallen 7.7% in the last 24 hours and 7.5% over the last week. Nonetheless, it has maintained some gains from its recent rally and is up 1% in the 14-day charts and 17.2% in the monthly charts.
Also Read: Ripple: Can $1000 of XRP Become $1 Million By 2030?
XRP witnessed a sudden spike earlier this week after the SEC amended its lawsuit against Binance. According to the documents, the presiding judge will not have to pass a judgment on whether certain cryptocurrencies are securities. This development led many to believe that a settlement was on the horizon regarding the watchdog’s suit with Ripple.
Can Ripple’s XRP hit $0.65 this weekend?
The researchers at CoinCodex anticipate Ripple’s XRP rallying over the next few days. The platform predicts the asset will hit $0.62 on Sunday, Aug. 4, 2024, and $0.78 on Aug. 6, 2024. Reaching $0.62 from current levels would translate to a rally of about 10.7%. The platform does not expect prices to hold above $0.60, predicting a correction to $0.61 by the end of the month.
Also Read: Ripple: Here’s When XRP Will Breach $3 Again
Changelly analysts present a slightly more bullish outlook for Ripple’s XRP over the next few days. The platform anticipates XRP to hit $0.792103 on Sunday, Aug. 4, 2024, a rise of about 41% from current price levels. The platform predicts XRP to trade above $0.64 for the rest of the month.
XRP’s price could see a larger rally if the SEC vs. Ripple lawsuit progresses positively. Many anticipate a settlement, but no official confirmation has yet been made.