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XRP Price Prediction--There's a Lot to Be Optimistic About!

The cryptocurrency market has been in the red for the past two weeks. XRP has fallen by 2% from an already-low price and has seen a decrease of 27% in the last month. Many investors are abandoning their positions as the fallout from FTX's insolvency wreaks havoc on the digital currency market.

XRP is trading at $0.358446, which is 72% below its price this time last year. Its chart seems to indicate that it still has a long way to go before it recovers. Relative strength index (purple) fell to below 30 yesterday and could stay in the region for a while.

Ripple Price Predictions After Two Weeks of Stability

Over the last few weeks, investor sentiment has seemed optimistic about Ripple's lawsuit with SEC. There have been some apparent victories on the road to a much-needed and favorable outcome. However, with LBRY dropping its court battle this week, many questions now lie ahead for Ripple.

At the same time, its 30-day moving average (red) has begun pointing down towards its 200-day average (blue). Chances are it will go below the longer-term oscillator, which takes a couple of weeks to happen at least. 

Investors might get hopeful at some point. However, recent events suggest that XRP is in for a tough time. As mentioned above, FTX appears to be on the brink of collapse, with Binance pulling out of a proposed acquisition--which could have saved the exchange--and CEO Sam Bankman-Fried looking to investors to pick up the slack. Now, existing investor Sequoia Capital has tweeted to say that it's completely writing off its investment in the ailing exchange.

So, as such, expect XRP and most of the other major coins to fall further when FTX eventually throws in the towel. On the other hand, XRP's situation could be made worse by Ripple's case with the SEC.

 Past months have seen positive developments, such as the court granting Ripple's request to file various amicus briefs (and also upholding their right to use a fair notice defense). Recently, however, there was a small shake-up in the market thanks to LBRY being found guilty of selling unregistered securities. In light of this result and Ripple following suit by backing an amicus brief on behalf of LBRY founder Alex Playa, there is now more of a chance that Ripple could lose its case against S.E.C. With this prediction in mind, there is a good chance that its value will drop significantly--possibly all the way down to $0.10--in the not-too-distant future.

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