{"id":30312,"date":"2023-07-02T00:24:13","date_gmt":"2023-07-02T04:24:13","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/xrp-price-up-2-in-24-hours-can-xrp-reach-10-in-2023\/"},"modified":"2023-07-02T00:24:15","modified_gmt":"2023-07-02T04:24:15","slug":"xrp-price-up-2-in-24-hours-can-xrp-reach-10-in-2023","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=30312","title":{"rendered":"XRP Price Up 2% in 24 Hours \u2013\u00a0Can XRP Reach $10 in 2023?"},"content":{"rendered":"
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The XRP price has risen by 2% in the past 24 hours, reaching $0.476333 as the wider cryptocurrency market gains by the same percentage today.<\/p>\n

Today’s increase goes part of the way towards compensating XRP holders for recent losses, yet the altcoin remains 3% down in the last seven days and 6.5% down in the last 30, although it has risen by 40% since the beginning of the year.<\/p>\n

Such a recovery has been achieved largely because of the progress Ripple has made in its legal battle with the SEC, which is likely to end within the next few months.<\/p>\n

And if Ripple does secure a positive summary judgment or settlement, then XRP may enjoy a massive rally in the following weeks, potentially rising to new highs in the context of a new bull market.<\/p>\n

XRP Price Up 2% in 24 Hours \u2013\u00a0Can XRP Reach $10 in 2023?<\/strong><\/h2>\n

XRP’s indicators suggest that the altcoin could be close to staging a recovery, with its relative strength index (purple) rising from under 30 a couple of days to 50 today.<\/p>\n

At the same time, XRP’s 30-day moving average (yellow) has reached what looks like a bottom in relation to its 200-day average (blue), implying that it and the coin’s price is likely to begin rising again.<\/p>\n

Indeed, the fact that XRP’s price has risen above its 30-day average would suggest that momentum is now moving in the altcoin’s favor, and that it may have just begun a rally that could last into the medium term.<\/p>\n

This would suggest a short-term XRP price target of around $0.49 or even $0.50, although the unstable condition of the cryptocurrency market at the moment may stop any potential rally before it really gets into gear.<\/p>\n

Still, the longer term picture for XRP looks more promising, with the aforementioned Ripple-SEC legal case nearing its conclusion.<\/p>\n

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More importantly, the past few weeks have brought a number of developments which suggest Ripple has a good chance of receiving the kind of judgment that will enable it to continue its business, while also enabling exchanges to continue listing XRP.<\/p>\n

This includes the release of the long-awaited Hinman emails, which revealed that even the SEC was confused as to what would qualify a cryptocurrency as a security.<\/p>\n

It also includes earlier rulings, such as the court upholding Ripple’s right to present a fair notice defense, as well as the court excluding an expert witness the SEC had called<\/a> to testify that XRP buyers would have had an explicit expectation of profit.<\/p>\n

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Taken together, such developments point to a potential Ripple ‘victory,’ something which would cause XRP to have one of the biggest rallies of the year.<\/p>\n

It would easily rise to $1 in the weeks following a positive conclusion, while the appearance of a fully fledged bull market could help it return to its current all-time high of $3.40, or even higher.<\/p>\n

Diversification with New Altcoins<\/strong><\/h2>\n

The only issue with XRP is that it may still take several months for a decision to arrive, meaning that the altcoin may not do much in the meantime.<\/p>\n

Of course, traders looking for above-average gains in the shorter term may be inclined to diversify their portfolios with a number of new altcoins, with presale tokens in particular holding promise of substantial returns.<\/p>\n

One of the most exciting new presale tokens in the market right now is Thug Life Token (THUG), a meme coin that has aligned itself with the gangsta rap and hip-hop communities.<\/p>\n

Launched earlier this week, THUG’s presale has already raised close to $150,000, with the offering having a hard cap of $2,058,000.<\/p>\n

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An ERC-20 token, THUG has a total maximum supply of 4.2 billion tokens (in a reference to 4\/20 culture), with 70% of this supply reserved for its presale.<\/p>\n

This will make THUG a more decentralized meme token than many of its peers and rivals, something which should help it accumulate a healthy community of holders and followers, all of whom will feel more invested in the project.<\/p>\n

In a departure from many other presales this year, THUG’s offering has only one stage, with the meme token available for $0.0007.<\/p>\n

Investors can put themselves in line for a potential profit by going to the official Thug Life Token website and connecting their MetaMask wallets, with the token buyable using either ETH or USDT.<\/p>\n

Given that there’s only one stage, the sale could end in only a few weeks, at which point THUG may enjoy some big rallies when it lists on exchanges.<\/p>\n

Visit Thug Life Token Now<\/strong><\/p>\n

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.<\/sup><\/i><\/p>\n<\/p><\/div>\n