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As the final verdict between the SEC and Ripple approaches, market sentiment remains positive. John Deaton, the XRP holders’ counsel, forecasts an impending surge in the price of Ripple as he expects more buyers to storm the market once the price of XRP reaches $2.
Deaton has been highly optimistic about the price of XRP soaring anytime soon. According to him, most investors will just be entering the market after XRP has passed the $1 price level. And even more, buyers will just be buying at $2 due to the fear of missing out (FOMO).
Key XRP Levels To Watch – May 30
XRPUSD has broken the $0.4950 resistance as the price keeps surging upward. The market has been in a bullish trend since reaching the $0.3400 price level. The price kept surging upward, breaking all resistance levels in its path.
#XRP sits at .48 cents and it’s crazy to think about how many people, who refuse to buy it now, are going to buy it over $1. What’s even more crazy is that fomo won’t likely kick in until $2.
— John E Deaton (@JohnEDeaton1) May 29, 2023
As a result of the BOS (Break Of Structure) that occurred on March 22, 2023, the presence of buyers increased drastically. From the $0.5470 high, a correction to the downside is likely to occur for a while.
Ripple Key Levels
Resistance Levels: $0.4950, $0.5850, $0.7500
Support Levels: $0.4100, $0.3500, $0.3400
Total Market Capitalization: $1.16T
XRP Market Capitalization: $26.98B
XRP Volume: $1.82B
Market Rank: #6
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