Cryptocurrency enthusiasts have noticed a slight decline in XRP prices recently. After being trade above the $0.5 mark until April 21, the price of the asset slid below $0.45, to $0.43. Today, XRP has seen a slight recovery back to $0.46 and investors are now concerned about the possibility of further decline. Taking to Twitter on this matter, prominent crypto analyst Egrag pointed out that the current technical indicators do not indicate a likely fall to the $0.10 mark as speculated by his friend.

The bearish trend gripping the entire crypto market has had an effect on XRP and has caused it to decline by a total of 9.87% in the past week. This has led to speculation of a future decline to $0.10, something Egrag was quick to correct. According to Egrag, there is no technical indicator or Fibonacci target that supports the claim that such a price correction is possible.

Egrag argues that while the predictions of a $0.10 price may be indicative of his friend's speculation, it is less likely to be what will happen. The analyst suggested that, if such a price fall were to occur, it would be due to unforeseen regulatory enforcement rather than organic market forces. As panicked investors remain concerned about the future of their holdings, Egrag has encouraged them to hold onto their XRP, as dips create strong buying opportunities.

The Ripple vs. SEC legal drama has drawn plenty of attention from within the XRP Army and the outcome of the case can be expected to have a significant influence on the crypto market. Attorney John Deaton, who is acting as an Amicus Curiae in the lawsuit, believes a ruling may arrive before May 6. Although it is not likely that a ruling alone will alter the $0.43 to $0.48 price range of XRP as Egrag had predicted, the ability to understand the situation will help traders make more informed decisions before investing.



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