XRP Price Prediction: Mike Novogratz Says Ripple’s XRP Is “Totally Wrong” As Investors Scramble To Make The Right Decision In This Presale With 10X Potential.

adminDecember 13, 2023

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XRP price fell 3% to $0.6050 as of 3 AM ET, with trading volume down 7%.

This comes after Ripple price faced rejection in its supply zone, which extended from $0.6572 to $0.7161, a seller-heavy area.

With XRP price struggling to breach the vendor congestion zone, investors are scrambling to make the right decision to buy BTCMTX while they still can.

According to analysts, the token has a tenfold potential once it is listed on the exchange.

Meanwhile, Galaxy Digital CEO Mike Novogratz walked back his comments doubting the potential of Ripple and XRP as an ecosystem. The cryptocurrency billionaire was skeptical about the potential of Ripple’s price due to the amount of XRP tokens the San Francisco-based payments company holds.

🧵Alpha Time: @novogratz X @RaoulGMI
Enjoy 5 takeaways from this conference… 🫡
1/ 🚀 Novo by Ripple $XRP Triumph against all odds: “I was wrong…” https://t.co/aleePocwRQ pic.twitter.com/T3rXFbbF3L
— Real Vision (@RealVision) December 10, 2023

Mike Novogratz Expresses Faith in XRP

RealVision appears on Novogratz said He had doubts about the sustainability of XRP as an ecosystem since Ripple owns about 60% of the token’s supply.

However, he is now congratulating Ripple CEO Brad Garlinghouse and his team. “The XRP army is real,” he said. “They care about the ecosystem and the coins.”

Elsewhere, Ripple lawyer John E. Deaton identified a “single threat to cryptocurrencies” and it is none other than US Securities and Exchange Commission (SEC) Chairman Gary Gensler. In his opinion, Senator Elizabeth Warren is her industry’s only enemy, and Deaton observed that she is the one giving Gensler the command.

Her bills are a big problem. Nine U.S. senators joined her, including Republicans and her independent counterpart. As I said, if you talk about people, Elizabeth Warren is the biggest threat to Crypto in the United States. Not Gensler because Gensler has her streak… https://t.co/N6PnYlFQVZ
— John E Deaton (@JohnEDeaton1) December 12, 2023

This comes after Senator Warren proposed legislation to ‘crack down’ on the cryptocurrency industry. In her opinion, the sector needs “greater compliance” because it promotes criminal activity.

Despite Warren’s 0/305 track record of getting bills approved, let’s hope this isn’t her first success.
Between FinCEN’s proposed rules for mixers and this nonsense, it feels like there is a concerted attack on Bitcoin in the United States.
I hope Election Day brings: pic.twitter.com/yo1nEcwXVp
— Sasha Hodler (@sashahodler) December 13, 2023

XRP price prediction

Even after the supply barrier was rejected, XRP price continues to remain above the $0.5773 support. However, given that the Relative Strength Index (RSI) is below 50, bears have the upper hand. A southward tilt also indicates a decrease in momentum.

The red histogram bar of the Awesome Oscillator (AO) indicates the presence of weakness in the Ripple market. Increasing selling pressure could see XRP price expand south, potentially losing the $0.5773 support. In a severe case, the slump may extend for the price to test the $0.4595 support. Such a move would result in a 25% decline from current levels.

On the other hand, if investors come in late, the resulting buying pressure could push XRP price north into the supply zone at $0.6572 to $0.7161. A break and close above the average threshold of this order block at $0.6869 would confirm the continuation of the northward move.

A decisive candle close above the $0.7333 resistance level will keep the supply zone bullish, setting the pace for the continuation of the trend, with XRP price likely to reach the $0.8505 local high last tested in July.

In a very bullish case, XRP price could hit a high of $0.9380, which would represent a 60% increase from current levels.

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— Bitcoin Minetrix (@bitcoinminetrix) December 12, 2023

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#rope We take precautionary measures by freezing 41 wallets connected to OFAC’s SDN list. 🔒
CEO Paolo Ardoino emphasizes being safer. #Stablecoin ecosystem.
What impact do you think such measures will have on the stability and trust of stablecoin technology?#Bitcoin Metrics Another achievement… pic.twitter.com/EOIjneI5f3
— Bitcoin Minetrix (@bitcoinminetrix) December 12, 2023

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Get details from trusted sources.
Do not share personal information or sensitive data.#Cryptocurrency safety pic.twitter.com/9VdOfrhaNT
— Bitcoin Minetrix (@bitcoinminetrix) December 13, 2023

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