Daily Price Outlook

XRP is priced at $0.4868, with a trading volume of $546.21 million in the past 24 hours. Over the past day, XRP has seen a 2.05% increase. It is currently trading 6.30% above its 7-day all-time high of $0.5626 and 13.47% below it. The circulating supply of XRP is 51.99 billion, with a maximum supply of 100 billion.

Pro Ripple attorney John Deaton has identified a legal provision that could have potentially prevented the SEC lawsuit against Ripple.

Deaton highlights the “Safe Harbour” concept, which, if implemented, could have protected Ripple and its decentralized cryptocurrency XRP from regulatory action.

Deaton suggests that this provision could have saved the company millions of dollars and better safeguarded the interests of XRP holders. The delisting of XRP from various exchanges following the SEC’s lawsuit against Ripple has had a negative impact on its price.

However, Deaton believes that the Safe Harbour concept could have addressed legal concerns for companies like LBRY and Ripple, offering better protection for XRP holders.

In a Twitter thread, attorney John Deaton revealed documents relating to a meeting between former SEC director William Hinman and leaders from venture capital firm Andreessen Horowitz (a16z).

Deaton claims that a16z presented Hinman with a lengthy report and a Safe Harbour proposal, which gained support from former SEC Commissioner Hester Pierce.

Although the Safe Harbour proposal initially focused on Ethereum (ETH), Deaton suggests that it could have been applied to other tokens like XRP.

Under this proposal, companies such as LBRY and Ripple would have been given three to five years to meet specific requirements for a token to be classified as a commodity.

The proposal did not materialize due to the former SEC Director’s failure to define a specific percentage threshold. However, Deaton’s provided materials indicate that Hinman considered holding more than 30% to 40% of the shares as “substantial,” potentially influencing the criteria for declaring an asset a commodity.

Following the release of the Hinman documents, XRP’s price experienced a recovery after a significant sell-off in the previous week. The market had doubts about the papers’ potential to support Ripple in its legal battle with the SEC.

Currently trading at $0.4870, XRP saw a 5.8% increase from its recent low of $0.4601, although it remains below its previous range of $0.53.

Thomas Kralow, founder and manager of Kralow Capital, believes that market sentiment surrounding the release of the Hinman documents could drive the XRP price to reach a bullish target of $30 in the near future, just ahead of a critical decision that will determine Ripple’s token’s fate.

XRP/USD Price Chart – Source: Tradingview

XRP/USD – Technical Analysis

From a technical standpoint, Ripple recently completed a significant retracement of 61.8% based on the Fibonacci levels, reaching around the $0.470 mark. The price encountered strong resistance at $0.5426 multiple times, resulting in a noticeable downward movement.

However, there are indications of a potential shift towards a bullish trend. A bullish candlestick pattern formed near the 61.8% Fibonacci retracement level, suggesting an increase in buying pressure and a potential reversal of the downtrend.

If this bullish reversal materializes, the cryptocurrency pair could aim for the next resistance levels at $0.4873 and $0.5051. It’s important to note that other technical indicators on the daily timeframe are sending mixed signals.

The 50-day exponential moving average is acting as a significant barrier around the $0.5044 level, while the relative strength index (RSI) and moving average convergence divergence (MACD) indicators are currently in a neutral zone.

Given these factors, it is advisable to approach long positions with caution above the $0.5053 level and short positions below the $0.4700 level. The breakout from this range will likely determine the future direction of the price, which will be further discussed in the upcoming forecast.

Daily Price Outlook

• Ripple completes a 61.8% Fibonacci retracement near the $0.470 level, encountering strong resistance at $0.5426 and resulting in a significant decline.
• If a bullish reversal occurs, the cryptocurrency pair could aim for resistance levels at $0.4873 and $0.5051.
• Approach long positions cautiously above $0.5053 and short positions below $0.4700, as the breakout from this range will determine future price movement.

In terms of technical analysis, Ripple has recently completed a 61.8% Fibonacci retracement around the $0.470 level. The price faced strong resistance at $0.5426 on multiple occasions, leading to a notable decline.

However, there are signs of a potential bullish reversal as a bullish candlestick pattern formed near the 61.8% Fibonacci retracement level, indicating a potential increase in buying pressure.

If a bullish reversal occurs, the cryptocurrency pair could target the next resistance levels at $0.4873 and $0.5051. It’s important to note that other technical indicators on the daily timeframe show mixed signals.

The 50-day exponential moving average acts as significant resistance around the $0.5044 level, while the relative strength index (RSI) and moving average convergence divergence (MACD) are currently in a neutral zone.

Considering these factors, it is advisable to approach long positions cautiously above the $0.5053 level and short positions below the $0.4700 level. The breakout from this range will likely determine the future price movement, which will be discussed further in the upcoming forecast.

XRP/USD Price Chart – Source: Tradingview

XRP/USD – Trade Idea

Entry Price – Buy Above 0.46967

Stop Loss – 0.5292

Take Profit – 0.4339

Risk to Reward – 1: 1.65

Profit & Loss Per Standard Lot = +$59/ -$35

Daily Price Outlook

• Ripple completes a 61.8% Fibonacci retracement near $0.470, signaling a potential bullish reversal.
• Resistance levels to watch are $0.4873 and $0.5051, but mixed signals from other technical indicators add some uncertainty.
• Long positions above $0.5053 and short positions below $0.4700 are recommended for the upcoming dance floor action.

Ripple has recently taken a swing on the technical dance floor, completing a 61.8% Fibonacci retracement around the $0.470 level. Despite struggling to break through the resistance level at $0.5426, the price has dropped it like it’s hot.

But fear not, as a bullish candlestick pattern has emerged near the 61.8% retracement, hinting at a potential dance move in the opposite direction.

If the music keeps playing, the cryptocurrency pair could bust some moves and aim for the next resistance levels at $0.4873 and $0.5051. However, the other dancers on the floor are sending mixed signals.

The 50-day exponential moving average is doing some fancy footwork as a significant resistance at the $0.5044 level, while the relative strength index and moving average convergence divergence are twirling in a neutral zone.

To groove with the rhythm, it’s wise to hit the dance floor with long positions above the $0.5053 level and short positions below the $0.4700 level. The breakdance battle between these levels will decide the future dance routine, which we’ll reveal in our upcoming forecast.

XRP/USD Price Chart - Source: Tradingview

XRP/USD – Trade Idea

Entry Price – Sell Below 0.48956

Stop Loss– 0.51170

Take Profit – 0.44496

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$44/ -$22

Daily Price Outlook

XRP faced an 8% price crash following the release of the Hinman documents, shifting the focus of the cryptocurrency market. The SEC vs. Ripple litigation took a favorable turn for XRP, but investor concerns about the future caused a decline despite expectations of a positive impact on the token’s price.

On June 14, XRP experienced a significant drop of nearly 8% after the disclosure of the Hinman documents. Although the price managed to recover from the support level of $0.47 and was trading at $0.48 at the time, there is still a reasonable risk of further decline based on broader market signals and price indicators.

Even if the trend of the altcoin changes and the price of XRP starts to rise, it may take time for it to stabilize due to the overall market instability. Overcoming the crucial barrier at $0.54, which is also the 2023 high, would require a 15% increase. However, if the barrier turns into a support level, it would refute the bearish argument.

Despite the unsealing of the long-awaited Hinman documents, the price of Ripple (XRP) remains relatively unchanged. Contrary to expectations, the remittance token only saw an 8% increase after the publication, which was subsequently erased. XRP bulls are conserving their energy as the summary decision deadline set by Judge Torres approaches.

XRP/USD Price Chart – Source: Tradingview

XRP/USD – Technical Analysis

Ripple recently showcased its dance moves on the technical floor, completing a 61.8% Fibonacci retracement near $0.470. Despite facing difficulty in surpassing the resistance at $0.5426, the price has taken a downward turn.

But don’t fret, as a bullish candlestick pattern has emerged near the 61.8% retracement, indicating the possibility of a dance move in the opposite direction.

If the rhythm continues, the cryptocurrency pair could groove towards the next resistance levels at $0.4873 and $0.5051. However, the other dancers on the floor are sending mixed signals.

The 50-day exponential moving average is showcasing some impressive footwork, acting as a significant resistance at the $0.5044 level, while the relative strength index and moving average convergence divergence are spinning in a neutral zone.

To synchronize with the rhythm, it’s advisable to hit the dance floor with long positions above the $0.5053 level and short positions below the $0.4700 level. The battle between these levels will determine the future dance routine, which we’ll unveil in our upcoming forecast.

Daily Price Outlook

• XRP/USDT shows positive signs with support at $0.5225 and buyer dominance.
• Resistance at $0.5300, potential gains to $0.5400 and $0.5469.
• Breakdown below $0.5225 may lead to support levels at $0.5100, $0.5042, or $0.4995.

XRP/USDT is showing positive signs as buyers find support at $0.5225. The recent consolidation pattern and breakout to $0.5215 indicate buyer dominance. Minor resistance is at $0.5300, with potential for further gains towards $0.5400 and $0.5469.

RSI and MACD are in the bullish zone, indicating buying pressure. A breakdown below $0.5225 could lead to support levels at $0.5100, $0.5042, or $0.4995.

Watch for a break above $0.5225 for continued bullish conditions.

XRP/USD Price Chart – Source: Tradingview

XRP/USDT – Trade Idea

Entry Price – Buy Limit 0.51947

Stop Loss – 0.50537

Take Profit – 0.54744

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$279/ -$141

Daily Price Outlook

The Ripple (XRP) coin continued its winning streak and drew further bids, surpassing the $0.53 level and experiencing a rise of over 2% on Tuesday.

However, the increase in value was mainly fueled by the growing anticipation surrounding the upcoming release of the Hinman documents. As a result, XRP’s price climbed to $0.53013, marking a positive reaction to this development.

Positive Impact of Hinman Document Release on XRP Price

Ripple’s CEO, Brad Garlinghouse, expressed his optimism about the documents, stating that they were definitely worth the wait.

These documents, which were previously kept sealed by the SEC, contain a speech given by former SEC director Hinman in 2018.

In this speech, Hinman specifically mentioned that Bitcoin and Ethereum could potentially be considered commodities rather than securities, as long as they achieved a sufficient level of decentralization.

The release of the Hinman documents is highly anticipated by Ripple and XRP enthusiasts as it could shed light on the ongoing SEC lawsuit against Ripple Labs Inc. and its top executives.

The lawsuit, filed in December 2020, alleges that Ripple sold XRP as an unregistered security, which would violate US securities laws.

Hence, the upcoming release of the Hinman documents had a positive impact on the price of Ripple’s XRP coin. As a result, the price of XRP increased by 2.2% and reached a trading value of $0.5281.

Ripple Labs Fights Back Against SEC, Challenges Security Classification of XRP

Ripple Labs Inc. is actively defending itself in its legal fight against the SEC by opposing the market regulator’s request for summary judgment.

In a detailed 89-page filing, Ripple pointed out the inconsistencies in the SEC’s arguments and contested the classification of XRP as a security. Experts are optimistic about Ripple’s chances of success based on the strength of their arguments.

XRP/USD Price Chart – Source: Tradingview

XRP/USD – Technical Analysis

XRP/USDT is showing positive signs as buyers find support at $0.5225. The recent consolidation pattern and breakout to $0.5215 indicate buyer dominance. Minor resistance is at $0.5300, with potential for further gains towards $0.5400 and $0.5469.

RSI and MACD are in the bullish zone, indicating buying pressure. A breakdown below $0.5225 could lead to support levels at $0.5100, $0.5042, or $0.4995.

Watch for a break above $0.5225 for continued bullish conditions.

Daily Price Outlook

• XRP is priced at $0.521745 with a trading volume of $1,609,517,823 in the past 24 hours.
• It holds the sixth position on CoinMarketCap with a market cap of $27,123,960,742.
• Technical analysis shows a slight bullish bias as XRP bounces off the support at $0.5108.

The current price of XRP is $0.521745 with a 24-hour trading volume of $1,609,517,823. Over the past 24 hours, XRP has decreased by 1.53%.

It holds the sixth position on CoinMarketCap with a live market cap of $27,123,960,742. There are 51,987,017,573 XRP coins in circulation out of a maximum supply of 100,000,000,000 XRP coins.

Technically, Ripple (XRP) shows a slight bullish bias after bouncing off the support zone around $0.5108. On the four-hour chart, a doji candle followed by a hammer candlestick pattern suggests weakening selling pressure and potential dominance by buyers.

The presence of an uptrend line indicates increased bullish strength. However, the Relative Strength Index (RSI) hovers around the 50 level, signaling a neutral stance.

The Moving Average Convergence Divergence (MACD) forms histograms around the middle line, reflecting a balance between buying and selling pressures.

Resistance is seen at $0.5345, and a breakout could generate higher demand and propel XRP towards the target level of $0.5478.

Possibilities include a breakout above $0.5478, which could drive XRP towards $0.5595 or higher. Conversely, if XRP breaks below the support level at $0.5108, it may target subsequent supports at $0.5000 and $0.4895.

XRP/USD Price Chart – Source: Tradingview

XRP/USD – Trade Idea

Entry Price – Buy Above 0.51040

Stop Loss – 0.49490

Take Profit – 0.53411

Risk to Reward – 1: 1.27

Profit & Loss Per Standard Lot = +$22/ -$14

Daily Price Outlook

Ripple (XRP) coin has continued its downward rally, experiencing a drop of over 2% in the last 24 hours. The decline can be attributed to the overall bearish sentiment in the cryptocurrency market, further intensified by the news of the US Securities and Exchange Commission (SEC) filing a lawsuit against Binance, the largest cryptocurrency exchange in the world. These developments have put significant downward pressure on XRP and contributed to its ongoing downward trend.

On a positive note, a tweet by crypto lawyer Bill Morgan featuring a sunset photo has sparked optimism regarding the Ripple-SEC case. This tweet is one of the key factors that may help XRP regain its strength and potentially improve its market performance.

The XRP price currently stands at $0.520470, with a 24-hour trading volume of $1,365,337,670. XRP is currently ranked #6, with a live market cap of $27,057,669,040.

Ripple-SEC Lawsuit Nearing Resolution: Positive Outlook for XRP Enthusiasts

Crypto lawyer Bill Morgan, a supporter of XRP, has hinted that the Ripple-SEC lawsuit may be reaching a resolution, which is seen as positive news for XRP. However, the recent lawsuit filed by the SEC against Binance has sparked speculation that the Ripple case may also see progress soon.

The XRP community perceives the SEC’s actions against Binance as an attack on the entire cryptocurrency industry. In light of these developments, some community members believe it is unlikely for the SEC to continue its legal battle with Ripple simultaneously.

Meanwhile, the upcoming release of redacted versions of crucial documents, including those involving former SEC official William Hinman, adds to the anticipation of potential advancements in the Ripple lawsuit. Consequently, this news is expected to have an immediate impact on the price of XRP.

XPPL Labs Achieves Positive Security Audit Results for XRP Ledger’s Hooks Amendment

XPPL Labs has achieved a significant milestone by conducting a comprehensive security audit on the Hooks amendment for the XRP Ledger. The audit was successful, with no significant security issues identified. The development team promptly addressed the few minor issues that were discovered. This audit outcome enhances the trust and reliability of the XRP Ledger, positioning it as a strong competitor to Ethereum.

The positive result of the security audit conducted by XPPL Labs on the Hooks amendment for the XRP Ledger has the potential to impact the price of the XRP coin positively. It reinforces the trust and dependability of the XRP Ledger, which could attract more investors and market participants.

SEC Introduces Guidelines Impacting Cryptocurrency Exchanges and Market Integrity

The Securities and Exchange Commission (SEC) has implemented new regulations to prevent fraud and manipulation in Securities-Based Swap (SBS) entities. These rules are designed to protect investors and ensure the market’s integrity. It is important to note that these regulations also apply to cryptocurrency exchanges operating as SBS platforms.

As a result of the SEC’s classification of 67 cryptocurrencies as securities, exchanges supporting the trading of these assets may be affected. This could potentially disrupt liquidity and lead to delistings. While the intention behind these changes is to bring clarity and enhance market protection, they may introduce temporary instability in the cryptocurrency sector.

Therefore, these developments have the potential to impact the price of XRP in the short term and create temporary uncertainty within the cryptocurrency market.

XRP/USD Price Chart – Source: Tradingview

XRP/USD – Technical Outlook

Ripple (XRP) is exhibiting a slight bullish inclination from a technical standpoint, having rebounded from the support zone around $0.5108. On the four-hour chart, the formation of a doji candle followed by a hammer candlestick pattern suggests a decrease in selling pressure and a potential shift in favor of buyers.

The presence of an upward trend line indicates growing bullish momentum. However, the Relative Strength Index (RSI) hovers around the 50 level, indicating a neutral stance.

The Moving Average Convergence Divergence (MACD) displays histograms around the midline, indicating a balance between buying and selling pressures.

A resistance level can be identified at $0.5345, and a breakout above this level could stimulate increased demand and push XRP toward the target level of $0.5478.

A breakout above $0.5478 may be possible, which could propel XRP toward $0.5595 or even higher. Conversely, if XRP breaks below the support level at $0.5108, it may target subsequent support levels at $0.5000 and $0.4895.

Daily Price Outlook

• Ripple's (XRP) price exhibits a slight bullish trend after rebounding from the $0.4900 support level and breaking above $0.5008, forming a double bottom pattern.
• The presence of a doji candle followed by a bullish engulfing candle suggests a decrease in selling pressure and potential buyer control.
• Technical indicators, including RSI and MACD, indicate weakening selling pressure, with RSI approaching the 50 level, implying a possible continuation of the upward trend.

Ripple's (XRP) price is showing a slight bullish trend as it rebounds from the $0.4900 support level and breaks above $0.5008, forming a double bottom pattern.

The presence of a doji candle followed by a bullish engulfing candle suggests a decrease in selling pressure and the potential for buyers to take control.

Technical indicators, such as RSI and MACD, indicate weakening selling pressure, with RSI approaching the 50 level, indicating the possibility of continued upward movement.

The 50-day exponential moving average, positioned around $0.5280, indicates oversold conditions and potential for bullish price action.

Immediate resistance is expected at $0.5304, while support levels at $0.4805 and $0.4612 may come into play if the price breaks below $0.5008. Monitoring the price around the pivotal point of $0.5008 is important for assessing future market direction.

Ripple Price Chart - Source: Tradingview

Ripple's (XRP) - Trade Idea

Entry Price – Sell Below 0.51390

Stop Loss – 0.52555

Take Profit – 0.49206

Risk to Reward – 1: 1.87

Profit & Loss Per Standard Lot= +$218/ -$116

Profit & Loss Per Micro Lot = +$21.8/ -$11.6

Daily Price Outlook

Ripple (XRP) coin failed to stop its downward rally and dropped more than 4% in the last 24 hours. However, the declines can be attributed to recent events that have negatively impacted the cryptocurrency markets.

The United States Securities and Exchange Commission (SEC) filed a lawsuit against Binance, the world’s largest cryptocurrency exchange.

It is worth noting that SEC has leveled several charges against Binance, including allegations of facilitating the trading of unregistered securities. This development has significantly deteriorated investor confidence and played a significant role in the decline of Ripple’s value.

The current XRP price is $0.510379, and the 24-hour trading volume is $1,992,288,694. XRP has dropped 4.01% in a few hours. XRP is now ranked #6 in the market, with a live market cap of $26,533,062,579. It has a total quantity of 100,000,000,000 XRP coins and a circulating supply of 51,987,017,573 XRP coins.

Ripple-SEC Lawsuit Nearing Resolution: Positive Outlook for XRP Enthusiasts

Crypto lawyer Bill Morgan, an XRP enthusiast, suggests that the Ripple-SEC lawsuit may be coming to a close, which could be positive news for XRP. The recent lawsuit filed by the SEC against Binance has further fueled speculations that the Ripple case might resolve soon.

The XRP community views the SEC’s actions against Binance as an attack on the entire crypto industry. With these developments, some community members believe it is unlikely that the SEC will simultaneously continue its battle with Ripple.

The upcoming release of redacted versions of key documents, including those related to former SEC official William Hinman, adds to the anticipation of potential progress in the Ripple lawsuit.

Therefore, it is not guaranteed that this news alone will have a direct and immediate impact on the price of XRP.

XPPL Labs Achieves Positive Security Audit Results for XRP Ledger’s Hooks Amendment

XPPL Labs has achieved a significant milestone in its efforts to enhance the XRP Ledger’s capabilities and position it as a strong competitor to Ethereum. The company recently completed a thorough security audit on the Hooks amendment in collaboration with cybersecurity firm FYEO.

The audit aimed to assess the overall security of the framework and identify any potential risks or vulnerabilities. Fortunately, the results were highly positive, with no major security issues discovered.

Although a few moderate and minor issues were identified, the development team swiftly addressed and resolved them. This successful security audit reinforces the reliability and robustness of the XRP Ledger.

Ripple Price Chart – Source: Tradingview

XRP/USD – Technical Outlook

Ripple’s (XRP) price is displaying a mild bullish trend as it rebounds from the support level at $0.4900 and breaks above $0.5008, forming a double bottom pattern.

The appearance of a doji candle followed by a bullish engulfing candle indicates a reduction in selling pressure and the potential for buyers to assume control.

Technical indicators like RSI and MACD suggest a weakening of selling pressure, with RSI nearing the 50 level, suggesting the possibility of sustained upward movement.

The 50-day exponential moving average, located around $0.5280, indicates oversold conditions and the potential for bullish price action.

Immediate resistance is anticipated at $0.5304, while support levels at $0.4805 and $0.4612 may come into play if the price falls below $0.5008. Monitoring the price around the critical level of $0.5008 is crucial for evaluating future market trends.