Former Ripple Director Claims XRP Will Not Reach AllTime Highs in the Near Future

Key Takeaways:
– Former Ripple Director McBride predicts that XRP’s price will not reach its all-time high until the SEC lawsuit concludes.
– Despite securing over 30 U.S. Money Transmitter Licenses, XRP’s price struggles in the market.
– XRP’s Relative Strength Index (RSI) at 32 suggests potential oversold levels, hinting at a price reversal.
– Ripple’s native token, XRP, faced challenges amidst the recent market crash.
– The SEC ruling in favor of Ripple caused XRP’s price to surge by 88% in July.
– XRP experienced a 5.3% drop following Bitcoin’s price crash but has since recovered to $0.48.

Former Ripple Director Sean McBride highlights the impact of the ongoing SEC lawsuit on XRP’s performance. He emphasizes that significant price movements are unlikely until U.S. District Court Judge Analisa Torres reaches a final decision.

McBride asserts that clarity on the legal front is crucial for XRP’s potential surge. He believes that a favorable outcome for Ripple could open doors for collaboration with U.S. institutions, ultimately boosting XRP’s price.

Amidst a bullish trend in other cryptocurrencies, XRP has remained stagnant, even during market corrections. Despite positive news like securing Money Transmitter Licenses, XRP continues to struggle in price.

The recent RSI drop to 32 indicates potential oversold levels for XRP. A further drop below 30 could signal a price reversal. With bearish sentiment dominating the market, XRP’s price hovers around $0.47, with potential support at $0.42 and resistance at $0.55.

Looking ahead, if the bulls gain momentum, XRP could see a price increase to $0.75. However, continued bearish trends may push the price down to $0.36. Overall, the outcome of the SEC lawsuit remains a key factor in determining XRP’s future performance.