XRP Soars 200% Against Bitcoin, Defies Lawsuit Odds: August Price Targets
Crypto sleuth Leerzeit shared an intriguing observation on Twitter, highlighting the surprising performance of XRP amid the Ripple SEC lawsuit. Contrary to BTC Maxis, XRP price has experienced a remarkable surge of over 200% in value against Bitcoin (BTC) and market sentiment is bullish as Ripple Lawsuit judgement nears.
The XRP/BTC Surge
Leerzeit’s tweet captures the essence of XRP’s unexpected growth, stating, “Since the SEC filed its lawsuit, XRP has gained more than 200% in value against BTC. Sure, you can try to find some excuse, but that won’t help either.”
In a subsequent tweet, Leerzeit challenges the logic of BTC maximalists, stating,
“The logic of the BTC Maxis should be that the value against Bitcoin must have decreased since the lawsuit.”
This perspective confronts the belief that any negative development in the crypto industry automatically benefits Bitcoin while diminishing the value of other cryptocurrencies. XRP’s surge of 204% challenges this conventional wisdom, urging a deeper examination of market forces at play.
XRP Price Prediction
In a recent analysis by Dark Defender, an influential crypto sleuth, an optimistic outlook on XRP’s price performance was shared. According to the analysis, XRP has broken its downtrend after a prolonged period of 777 days. The Super and Wave trends are currently bullish, indicating a favorable market sentiment for XRP.
Also Read: Why July 01 Is Important For Ripple Lawsuit?
While there is a possibility of a temporary dip to $0.40, it is believed that this would not disrupt the overall bullish pattern. The analysis suggests that XRP is forming a cup pattern and projects price targets of $0.8917, $1.7396, and $3.3939, with the anticipated upward movement starting from August.
XRP’s Price Performance
Bitcoin experienced a dip on Monday morning in Asia after reclaiming the $26,000 support level over the weekend, XRP exhibited resilience. XRP, along with Dogecoin and Litecoin, emerged as the only gainers among the top 10 non-stablecoin cryptocurrencies.
Despite ending the week down 6.56% at $0.48678, XRP demonstrated strength by rising 1.45% on Sunday and recording a 0.91% gain on Saturday. However, it fell short of reaching the $0.50 mark for the fourth consecutive session.
As of now, the live XRP price stands at $0.493151 USD, with a 24-hour trading volume of $841,551,286 USD. In the last 24 hours, XRP has witnessed a 2.24% increase in value, which Btcoin is down 0.74% in the same time period.
- Just In: Hyperliquid Strategies Eyes $1B Capital Raise, Plans HYPE Token Accumulation
- Senators Reaffirm Commitment to Market Structure Bill After Meeting with Coinbase, Ripple
- How the Crypto Market Could React to the Next Fed Meeting on October 29?
- $1.68 Trillion T. Rowe Price Files for First Active Crypto ETF Holding BTC, ETH, SOL, and XRP
- Standard Chartered Predicts Bitcoin Could Drop Below $100K Amid U.S.–China Trade Tensions
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
