• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
The VR Soldier
  • Featured
  • News
  • Education
  • Reviews
  • Press Releases
  • Featured
  • News
  • Education
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier

XRP Price Prediction and News for July 19th – XRP Price Up 17%, Jed McCaleb Empties Wallet

Cryptocurrency Markets Are Pumping With $XRP up 17%

Kyle Portman by Kyle Portman
July 19, 2022
in News
Reading Time: 3 mins read
0
XRP Price Prediction & News
33
SHARES
Share on TwitterShare on Facebook

Cryptocurrency markets continue their spectacular bullish rally today, with Ethereum taking the lead as traders look to capitalize on its upcoming network merge. Bitcoin is up over 13% as the global markets open in the green today, leaving major altcoins like XRP, Cardano, and Solana to reap considerable price gains today. Moreover, even meme coins like DogeCoin and Shiba Inu registered double-digit percent price growth this week as traders flocked to crypto assets.

XRP News

XRP price managed to gain 16% this week, despite former Ripple CTO Jed McCaleb selling his remaining XRP balances after nearly eight years.

According to on-chain data, McCaleb sold his remaining 1.1 million XRP worth over $390k on Sunday, emptying his wallet of the remaining tokens. According to a report from CoinTelegraph, the former Ripple Labs founder sold over 18% of XRP’s token supply over the years, and the last transaction on Sunday marks the end of Jed’s selling pressure on the market.

In other news, Ripple labs managed a small victory in their lengthy legal battle with the SEC when the judge presiding over the case slammed the regulator for failing to act according to “faithful allegiance to the law” when the agency filed a motion to withhold essential documents from the case.

In a recent interview, Brad Garlinghouse, Ripple’s CEO, stated that the company will have spent over $100 million in legal fees fighting the regulator, speaking to the tremendous financial cost of its efforts to defend itself and the global cryptocurrency industry from regulators.

XRP Price Prediction

While XRP price saw upwards of 16% in price growth this week, the crypto asset is having a rough time breaking past the $0.36 resistance level.

After attempting to breach $0.36 twice, the XRP market is losing steam in its attempt to breach the critical resistance level again.

XRP price chart 7 day
7D XRPUSD // Source: CoinMarketCap

The most likely scenario for XRP is a retrace to the $0.35 range and building momentum before attempting to break through the resistance level at $0.36.

Assuming crypto markets will continue pumping, there’s no reason for XRP not to break through the $0.36 level, especially with McCaleb’s selling pressure finally over after eight years. In addition, the positive news regarding Ripple’s battle with the SEC should serve investors with some certainty regarding the future and long-term potential of XRP.

Ripple is fighting for itself and the crypto industry as a whole. While XRP might not be as popular with the broader crypto market due to its close relationship with regulators, the fact the company is spending millions on legal costs to secure its future is admirable. It should serve as a significant long-term confidence booster for traders and investors.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any tokens.

Follow us on Twitter @thevrsoldier to stay updated with the latest Metaverse, NFT, A.I., Cybersecurity, Supercomputer, and Cryptocurrency news!

Image Source: slavstan/123RF

Previous Post

Shiba Inu Price Prediction – SHIB Price Pumps 12% Today

Next Post

Shiba Inu Price Prediction and Analysis – SHIB Rallies Past $0.00001300, Ecosystem Continues to Grow

Newsletter

Click to subscribe to our weekly newsletter

Press Releases

Decentraland, Shiba Inu, and PrivaCrip: 3 Coins to Diversify Your Portfolio
Press Releases

Decentraland, Shiba Inu, and PrivaCrip: 3 Coins to Diversify Your Portfolio

by Tony Toreto
August 14, 2022

Diversifying one's portfolio is a frequent practice among experienced crypto enthusiasts. This implies that they select various cryptocurrencies based on...

Read more
keninah

What Makes Decentraland, Apecoin, and Keninah Concord Thrive in The Coin Market?

August 13, 2022
Best Decentralized Tokens To Rule The Metaverse: Petrousus and The Sandbox

Best Decentralized Tokens To Rule The Metaverse: Petrousus and The Sandbox

August 13, 2022
Top Cryptocurrencies For Your Wallet: Polkadot, Solana, and Mehracki Token

Top Cryptocurrencies For Your Wallet: Polkadot, Solana, and Mehracki Token

August 10, 2022
Data Privacy In Blockchain Technology: PrivaCrip

Data Privacy In Blockchain Technology: PrivaCrip

August 10, 2022
  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

© 2022 The VR Soldier

No Result
View All Result
  • Featured
  • News
  • Education
  • Reviews
  • Press Releases

© 2022 The VR Soldier