XRP price eyes rally to 2024 peak, holders await new developments in SEC v. Ripple lawsuit
XRP price climbs to a high of $0.5741 on Tuesday, rallying towards its $0.60 target. The altcoin is in an uptrend, as the SEC v. Ripple lawsuit enters a new phase in its legal battle, known as "remedies". The remedies phase could result in a declaratory judgment on the issue before the court, damadges being awarded and or sanctions being imposed.
In Judge Torres' original ruling, Ripple was in violation of securities law only in sales to instiutional clients, not to retail investors, and it is still possible new evidence from the financial statements and institutional sales contracts shared by Ripple, could come to light and influence the outcome of the SEC v. Ripple lawsuit.
Altcoins facing a risk of correction after massive rally: Cardano, Chiliz, Fetch.AI, Lido, The Graph
Altcoin prices have climbed in the past four months, offering massive gains to holders beginning October 2023. Except for a few lagging altcoins, a vast majority of assets generated profits for average wallet holders in the mid to long term timescale.
Crypto intelligence tracker Santiment’s predictive model uses Market Value to Realized Value (MVRV) metric to determine whether an altcoin is in an opportunity or danger zone. The model identified several assets in the danger zone, most notable ones including Cardano, Ethereum, Lido and Fetch.AI, among others.
Celestia price could dip before TIA rallies 40%
Celestia (TIA) price shows signs that it is closer to triggering a rally. But there might be a dip before the TIA bulls kickstart an explosive move to the upside. Celestia price action between January 15 and February 20 has resulted in a $13.88 to $20.33 range. Recently, however, TIA has been moving sideways above the daily support level at $18.23. Investors can expect the altcoin to sweep the range’s midpoint at $17.11, which could be a buying opportunity for sidelined buyers.
The Awesome Oscillator (AO) has already flipped negative and is hovering close to the zero level, indicating a struggle between the bulls and the bears. The Relative Strength Index (RSI) also shows a similar, though uncertain, outlook; both indicators support a potential correction if it occurs.
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