XRP price on the rise: experts warn of fatal sales mistakes!

XRP price on the rise: experts warn of fatal sales mistakes!

The XRP price is currently showing positive development and is around $2.95. This price increase can be seen against the background of the introduction of XRP futures ETFs and the almost completed legal dispute with the US Securities and Exchange Commission (SEC). Crypto experts strongly warn against selling the digital currency now and instead recommend holding XRP for the long term. Abdullah Nassif, host of the Good Morning Crypto podcast, highlights that the crypto market is only in its early stages in terms of opportunities.

A guest on the latest episode of the podcast called selling XRP the “biggest mistake.” The moderators advise taking profits, but not selling everything. “It is advisable to store XRP securely, for example in a cold wallet or a private trust,” emphasizes Nassif. Johnny Crypto, co-host of the podcast, shares his personal experience when he sold his Amazon shares in 1997 and missed out on a potential $52 million profit.

Litigation with the SEC

The ongoing legal battle between Ripple and the SEC, which has been going on since December 2020, may soon come to an end. Rumors about a possible end to the legal dispute are spreading primarily through the user JackTheRippler on social networks. He is a supporter of the XRP currency, but critics accuse him of sensationalism because he has made similar speculations in the past.

Marc Fagel, a former general counsel for the SEC, called the rumors unfounded. Nevertheless, the SEC and Ripple plan to withdraw an appeal to speed up the process. An internal SEC vote on the appeal is pending, but Fagel believes it could take place in the coming weeks. A closed meeting of the SEC to clarify the situation is scheduled for July 17.

Market development and forecasts

The market for digital assets continues to develop dynamically. Banks estimate trading volume at over $19 trillion, showing that interest in digital currencies like XRP is growing. It is expected that billions of stablecoins will flow into the crypto market, which could provide additional impetus for price increases.

Analysts are optimistic and assume that positive news from the legal dispute could cause the XRP price to rise further. A close above $3.25 could signal a major breakout. Some analysts are even setting price targets of up to $10 for XRP in 2025. The upcoming approval of more than ten XRP ETFs this year could also have a decisive impact on the market situation.

Overall, the future of XRP appears to be in an increasingly positive light, so investors would be well advised to stay informed about market and litigation developments.