Analysts predict a surge in XRP's price to $2, influenced by the waning credibility of the SEC ahead of its appeal. This prediction comes as the XRP price consistently shows a neutral candle formation for over a week, struggling to break past a multi-year resistance.
The market's consolidation, characterized by multiple short-bodied candles with long wicks, reflects indecisiveness among buyers and sellers. Most crypto investors are closely monitoring any updates regarding the SEC and potential regulatory shifts before making significant moves.
Uncertainty in the market can largely be attributed to ongoing scrutiny and anticipation around SEC’s actions, as investors await clearer regulatory directions.
