A crypto analyst opined that XRP’s price "is likely to fluctuate between $0.50 and $0.80" for the rest of 2024 with strong emphasis on regulatory developments.
The latest appeal by the United States regulator in its case against blockchain payments firm Ripple may further push market participants to adopt a more risk-off approach to XRP in the short term, according to a crypto analyst.
The comments come despite the recent filing not directly challenging the ruling that XRP is not a security. The appeal asked the court to review its decisions regarding Ripple’s XRP sales on exchanges and personal XRP sales by Ripple CEO Brad Garlinghouse and co-founder Chris Larsen.
The legal uncertainty could widen XRP’s (XRP) price volatility, pushing the asset to potentially fluctuate within a range of nearly 50%, the analyst believes.
