The XRP price has been on the rise in the past few weeks, with its current price representing an 8% gain in the last seven days. This surge comes as the market awaits the conclusion of Ripple’s case with the SEC. However, Ripple CEO Brad Garlinghouse has recently suggested in an interview that cryptocurrency firms may leave the US, which he views as having a “confusing” regulatory regime. This raises the question of whether Ripple itself could be planning to leave America in the wake of its fight with the SEC.
Despite the uncertainty surrounding the outcome of Ripple’s case, XRP remains one of the strongest major cryptocurrencies in the market right now. Its indicators show good momentum, with its 30-day moving average climbing steeply above its 200-day average, signaling strong buying pressure that could continue for several days, if not weeks. Its relative strength index has remained consistently above 50, and XRP’s support level has been consolidating around increasingly high levels over the past few days, suggesting that the altcoin’s gains are unlikely to be reversed anytime soon.
The recent joy for XRP has been primarily due to Judge Analisa Torres denying the SEC’s motion to block access to important documents related to William Hinman’s 2018 ‘Ethereum-is-not-a-security’ speech. This speech and the related emails have an important bearing on the XRP case, as they may refer to how the SEC viewed the altcoin, reinforcing the argument that the regulator did notprovide Ripple with fair notice. Additionally, Ripple’s acquisition of Switzerland-based custody provider Metaco for $250 million is another reason for XRP’s recent gains. This acquisition indicates that Ripple is planning an expansion into institutional custody services and is preparing for a future in which it can operate without restrictions. In other words, the acquisition is a sign that Ripple is expecting to win its case with the SEC or at least secure a favorable judgment.
Many lawyers believe that the SEC has not done a very good job of proving the major plank of its case, which is that Ripple gave early buyers of XRP an expectation of profit. Therefore, the next few weeks or months could bring a positive outcome for Ripple, resulting in XRP rallying massively. From its current level of about $0.46, it could easily rise back up to $1 in the days or weeks following the case’s end, while a generally bullish market could help it increase to even higher levels, potentially surpassing its current all-time high of $3.40.
However, it is important to note that there is no guarantee of a positive outcome for Ripple, which means that investors may be advised to consider diversifying their portfolios. One way of doing this is by including one or two presale tokens, which come with big potential upside, particularly in terms of listing on big exchanges and rallying as a result.
Ecoterra is one such presale token that investors may want to consider. It is a soon-to-be-launched recycle-to-earn platform that has already raised over $4 million in its presale. The sale is currently in its seventh stage, with 1 ECOTERRA costing $0.008500, a price that will rise to $0.009250 in the offering’s eighth stage. Ecoterra’s platform will enable users to recycle various household recyclables at designated reverse vending machines, with users able to receive ECOTERRA in exchange for registering recycled objects via the official ecoterra app.
Ecoterra will also incentivize recycling, enabling ECOTERRA holders to earn a passive yield from buying the token and/or recycling. Additionally, the platform will feature a marketplace for carbon credits, which can be purchased using ECOTERRA and exchanged for NFTs. These features promise to transform ecoterra into a thriving ecosystem that helps preserve our environment.
In conclusion, the XRP price has been on the rise in the past few weeks, and its indicators show good momentum. Despite the uncertainty surrounding Ripple’s case with the SEC, the recent developments suggest that XRP is likely to continue its upward trajectory. However, investors may want to consider diversifying their portfolios by including one or two presale tokens such as Ecoterra, which promises to be a promising platform for incentivizing recycling and preserving the environment.
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