The cryptocurrency market is currently highly bullish. Moreover, all the major cryptocurrencies, including XRP, is highly in the bullish circle.
Slowly and steadily cryptocurrency market has started to show signs that it is coming out of the FTX collapse aftershocks.
The market sentiment of investors is positive, and the over-market cap of the past 24 hours has also increased.
Talk of XRP, the price of the crypto token dipped by $0.30 the other day, but today the cryptocurrency regained its bullish momentum.
As bulls have emerged stronger, so does the CEO of Ripple. Ripple was badly looking for some momentum so that the price of its native token, XRP, could go higher after having a poor 2022.
Ripple has gained that momentum after showcasing strong legal performance in court. The cryptocurrency exchange was fighting its lawsuit against SEC.
Some experts have already put that lawsuit to bed by stating that Ripple has already won the case. Just an announcement is needed.
Currently, XRP is exchanging hands at around $0.35. To maintain its bullish run, the currency has to hold its current price.
XRP is Bound to Surge as Experts Are Positive About XRP Price Performance in 2022
Ripple’s CEO Brad Garlinghouse and other market experts expect another price hike.
The CEO also added that 2023 is the year the world will see a breakthrough outcome from XRP.
He added that Ripple is winning the court battle and XRP reclaiming its bulls means the currency is also winning in the market.
The reason that Ripple will win its legal battle is simple. Legal experts are yet to define “digital asset security legally.”
Ripple CEO said that the biggest loophole in crypto regulations is that legal experts need to be more literate about crypto, and their decision should be more knowledgeable.
No matter how many bills the regulators might pass, more than these bills will be needed to control the marketplace, and the unanimous status of those bills will also be questioned.
Some of the industry’s biggest names have already voiced against this misguided regulatory aggression.
They argued that these unreal regulations are pushing cryptocurrency toward a crisis. These restrictions can have a similar impact on FTX’s collapse.
The CEO of Ripple said that emerging countries like Brazil, El Salvador, and Singapore have more developed cryptocurrency frameworks than developed countries such as the U.K. and USA.
Brad Garlinghouse argued that he and his team are waiting for the final ruling from the court, and as soon as this judgment is passed, Ripple’s regulatory troubles will end.
XRP Price Performance and Upcoming Levels of Resistance
XRP price recovered as the crypt token is priced at $0.35 from $0.33. The sustainability of price at this level will give investors sustained profits.
The other level of resistance for XRP will be at $0.44. On the other hand, XRP’s RSI shows that investors will actively invest in XRP means strong buying pressure and less selling pressure on XRP in the future.
Just a few days before the start of 2023, a few crypto whales have sold XRP amid the rumors that its price will go down in 2023.
But as of this writing, the market cap of the crypto token has surged by 7.2%. The biggest test of XRP is yet to come when it has to surpass the $0.56 resistance level before finally reaching the $1 mark.
If the cryptocurrency fails to go above its current price level, then investors have to wait for a long. In the worst scenario, XRP could further go down to $0.30.
But one thing is evident Altcoins are showing huge potential for gains. Despite the fact that Bitcoin is the top priority, altcoins tend to be more beneficial.
Experts have advised that investors should rush and buy XRP. Apart from XRP, some other interesting investment opportunities are also available under $1.