A critical week starts for XRP investors. The US Securities and Stock Exchange Commission (SEC) will vote on 27 March to officially terminate the Ripple case. If this vote results as expected, a harsh rise in the XRP price may begin. Moreover, Ripple’s public offering process can accelerate immediately after this development. Can the XRP price really see $ 5 this week?
A new era begins in XRP with the Second Vote
Ripple CEO Brad Garlinghouse recently said in a statement that SEC would not appeal. Although this statement has a positive impact on the market, SEC has not yet made an official announcement. So the XRP price is wavy. However, crypto analyst Zach Realtor is waiting for a great development this week.
According to Realtor, on Thursday, March 27, the SEC commission members will vote for closing the Ripple case. On the same day, Paul Atkins, who was nominated as the new SEC President, will take place at the Senate Banking Committee. If approved, Atkins is expected to adopt a crypto -friendly approach. This can create a positive atmosphere for many subcoins, including Ripple.
Ripple is ready for public offering: Big Opportunity for XRP
The closure of the case is of great importance not only for the price of XRP, but also for the future of Ripple. The company’s public offering (IPO) has been spoken for a long time, and now it may have been opened to this step. In an interview with Bloomberg last week, Garlinghouse said that the public offering could now be evaluated, but there is no priority in the short term.
Garlinghouse said Ripple focuses on growth with new acquisitions. In other words, strategic moves that will increase the value of the company, whether it is a public offering, are on the table. All these developments show that the XRP price can make a hard leap in the coming days.
Can XRP see $ 5?
Currently, the XRP price is traded at $ 2.44. However, technical analysis and market dynamics indicate that this price can be folded in a short time. Analyst Crypto Patel says XRP can target $ 3.40 after sweeping the sales liquidity. If this resistance is exceeded, the next target will be 5 dollars directly.
In addition, according to Coings data, the Open Follow -up volume in the XRP is close to $ 4 billion. This shows that investors prefer to keep them in instead of closing their positions. In other words, there is still a strong expectation in the market.
