The XRP price has plunged 18% in the last 24 hours as news of the possible FTX collapse boosts the broader cryptocurrency market. At €0,360066, the altcoin fell 22% in a week and 32% in a month, having also suffered the loss of LBRY in its lawsuit against the SEC.
With Ripple fighting a similar legal battle against the SEC, LBRY's loss in its case, and the ruling by the presiding judge that LBRY was selling unregistered securities, raises big questions about whether the XRP issuer can achieve a favorable outcome in his own case. battle. And with the broader cryptocurrency market facing the possibility of contagion as FTX appears to fall, the price of XRP is likely to remain low for some time.
XRP Price Prediction: XRP is (*12*) down 12%, has the price bottomed yet?
Unsurprisingly, XRP technical indicators are showing a huge loss of momentum, with almost everyone selling at the moment. Its Relative Strength Index (purple) has fallen from just over 60 a few days ago to 30 now, and is likely to drop below 30 (and close to 20) before its current decline bottoms out.