Pro-XRP Lawyer Debunks FUD Over Ripple Dumping XRP, Price To Hit $1?

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 06 2024

Should l Buy XRP?

XRP Lawyer Bill Morgan Addresses FUD: Renowned pro-XRP lawyer, Bill Morgan, dismisses fear, uncertainty, and doubt (FUD) surrounding Ripple's XRP dumps as baseless, emphasizing Ripple's strategic plan for XRP utility and adoption.
XRP Price Performance: Despite concerns, XRP has shown recovery and impressive gains in daily and weekly charts, hinting at a positive future outlook.
XRP Price Analysis by Egrag Crypto: Analyst Egrag Crypto highlights key stages in XRP price movement, suggesting potential bullish runs and milestones like reaching or surpassing the $1 mark.
XRP Market Momentum: XRP token gains 2.38% in 24 hours, trading at $0.5421 with a 7.35% weekly increase, attracting investor attention.
SSMP Model for XRP Price Prediction: The SSMP model outlines four crucial stages for XRP price movement, focusing on structural formation, sentiment status, macro range, and psychological battlefield, aiming to predict market trends and potential outcomes.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP) As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.516	0.817	1.153	1.454	1.791	2.092	2.428
Fibonacci	0.817	1.06	1.211	1.454	1.698	1.848	2.092

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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