Given the slowdown in the cryptocurrency market, XRP price prediction remains bearish as it has broken through a trendline support level at $0.3900. This is despite Ripple being named a Top 10 most valuable startup in the US.
This news comes as Ripple’s attorney, John E. Deaton, warned the community that further regulation is on its way and it won’t look pretty.
The attorney warned on Twitter that the US Securities and Exchange Commission (SEC), under Gary Gensler’s leadership, will be harsh on crypto companies.
Deaton added that the SEC’s decision to increase its staff by 50% was motivated by a desire to destroy the cryptocurrency industry.
In response to a tweet by Bitboy Crypto, Deaton said that enforcement was the only thing on the minds of the regulatory body.
Deaton elaborated on the SEC’s plan of action, saying that the SEC itself might be another significant exchange that has a negative impact on the market.
“I believe it even more today because it could cause another 50% crash. Then incumbents take a larger share.”
As a result of this news, XRP is down 2.3% in 24 hours.
America’s Ten Most Valuable Startups Include Ripple
According to data compiled by Finbold, only one cryptocurrency company, Ripple, has made the list of America’s 10 most valuable companies.
The $15 billion-valued Ripple occupies the tenth slot and has grown at such a rapid rate that it is now the only cryptocurrency-related company among the top ten most valuable startups in the United States.
Note that Ripple’s new valuation came about after the company decided to repurchase shares from the investors that provided funding for its $200 million Series C round in 2019.
This valuation is a positive reflection of the faith in the project, despite the ongoing court case with the SEC.
XRP Price Prediction
On the technical front, the XRP/USD pair is trading at $0.3825 with a slight bearish bias. On the 4-hour timeframe, XRP has broken through an upward trendline that had been supporting it near $0.3900. This is the same level where the 50-day moving average acts as resistance, helping to push the XRP price down.
On the downside, XRP is likely to find immediate support near $0.3740, and a bearish break of this level could expose it to $0.3610 or 0.3450.
The RSI and MACD indicators are also in a selling zone, indicating the possibility of a selling trend. If demand increases, bullish pressure may cut through the $0.3900 resistance level to target $0.4110 or $0.4375.
Alternative Coins with Huge Potential
It’ll take months for the XRP case with the SEC to resolve, and so some traders have begun looking elsewhere for quicker gains. Here are some coins with huge potential in the short term.
IMPT: Presale to End in Less than a Week
IMPT is getting attention as it will start trading on the decentralized exchange (DEX) Uniswap on December 14. Two centralized exchanges, LBank and Changelly Pro, will list IMPT shortly after its DEX launch.
Dash 2 Trade (D2T)
Those looking to invest in a promising crypto trading platform startup should consider Dash 2 Trade. With its unique features, the up-and-coming analytics and social trading platform hope to take the crypto trading space by storm.
Dash 2 Trade is currently holding a token pre-sale at drastically reduced prices. Sales of D2T tokens recently surpassed $8.7 million. The price per token will be increased to $0.0556 from $0.0533 when the sale moves to the next stage.
RobotEra (TARO) is a Sandbox-style Metaverse that will enable gamers to play as robots and participate in the creation of its virtual world, including NFT-based land, buildings, and other in-game items. Due to launch in an alpha version in the first quarter of next year, it also plans to let players link up with other metaverses, in the process creating a multi-verse where NFTs from different platforms can interoperate.
1 TARO is currently selling for 0.020 USDT (it can be bought using either USDT or ETH), although this price will rise to $0.025 in the second stage of its presale. The project has now raised more than $393 in funds in the few weeks since the launch of the pre-sale.