There was a bullish trend in XRP that resulted in a 28.46% price increase over the past 30 days. However, if you narrow your focus to just the last week, you’ll see that prices have fallen by 7.91 percent.
That’s why the famous crypto analyst E-firm Smitty also said that he is confident that cryptocurrency usage will rapidly spread across the globe in the near future.
Here’s why XRP is sustainable
U.S. record producer Eric Finnerud, better known by his stage name E-Smitty, made a bold forecast about the future value of XRP in a recent tweet, claiming that its price would rise to five figures.
In the not-too-distant future, E-Smitty predicts, everyone on Earth will be using XRP and a few other cryptocurrencies. He stated that he often uses XRP to pay royalties to the musicians he works with and that he accepts payments in this cryptocurrency for mixing, mastering, producing, and advertising. It’s not just E-Smitty who’s in this predicament.
Whereas, David Gokhshtein, the founder of Gokhshtein Media, recently tweeted that if Ripple prevails in its legal battle with the SEC, XRP’s value will surge and the entire crypto market might undergo a parabolic spike.
Additionally, he asserted that the entire cryptocurrency market would experience a meteoric rise if Ripple prevails in its legal battle against the SEC regulatory agency.
Overall, he is optimistic about the possibility that Ripple will triumph in the legal struggle with the SEC. If Ripple is successful, he thinks that this victory will spark a big increase in the price of XRP.
XRP Price Momentum
XRP was trading at $0.4573 at the time this article was written, a decrease of 2.82% in the previous twenty-four hours and 6.22% in the previous seven days. After several weeks of intense market activity, the XRP price momentum came to a halt.
Trader excitement and high hopes for a favorable outcome to the Ripple case have helped push XRP to the forefront of gains in recent months.
The number of new XRP addresses created in 24 hours also hit its highest level in three months, 2,773. According to Santiment’s announcement on October 6th, this is the fastest network growth in a single day since July 2nd.
Conclusion
The crypto market has many exciting developments. The last 24 hours’ bullish conduct gives promise for a favorable wave.
