XRP Price Prediction as Solana Overtakes Ripple – What’s Going On?

Arslan Butt

Last updated:

March 20, 2024 21:13 EDT

| 4 min read

XRP, Ripple’s native token, has recently seen a dipped below the key $0.60 support level, a move primarily driven by the ongoing SEC lawsuit against Ripple.

This legal entanglement has stirred investor anxiety, contributing to XRP’s decline, but for the movement, XRP price has recovered to trade above $0.60 mark.

The request by both the SEC and Ripple to seal sensitive documents in their remedies brief has further fueled market uncertainty, prompting a sell-off.

This price decrease mirrors concerns over the lawsuit’s outcome and its implications for XRP’s classification as a security.

The legal uncertainties, coupled with potential repercussions for Ripple regarding securities registration, have cast a shadow over XRP’s valuation.

XRP’s price is under pressure, now trading near $0.6090 amid legal battles with the SEC.

Legal outcomes and regulatory clarity remain pivotal for XRP’s future market position.

Solana’s rise in market capitalization has intensified competition, affecting XRP’s market dynamics.

Investors remain vigilant, watching how Ripple’s standoff with regulators unfolds, impacting XRP’s standing and broader market perceptions.

BTC-Spot ETF Outflows and Federal Reserve Concerns Weigh on XRP Price.

Recent market trends have shown that outflows from BTC-spot ETFs, alongside apprehensions about the Federal Reserve’s interest rate policies, have placed significant pressure on the broader cryptocurrency market, including XRP.

A notable $154.4 million withdrawal from BTC-spot ETFs on March 18 reflects a changing investor landscape.

These developments, coupled with the looming uncertainty over the Fed’s interest rate strategies, have heightened market volatility, adversely affecting XRP’s value.

BTC-spot ETF withdrawals signal investor caution, affecting the crypto market.

Federal Reserve’s interest rate decisions add to market uncertainties.

These factors together have led to a downturn in XRP’s price, underscoring the interconnectedness of crypto assets with broader financial market sentiments.

Ripple’s Legal Fray and Regulatory Ambiguity Affect XRP’s Market Value.

Ripple’s ongoing legal dispute with the SEC, particularly highlighted by Stuart Alderoty, Ripple’s Chief Legal Officer, has cast a shadow over...

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