The cryptocurrency market recovered after the US Federal Reserve (Fed) reduced interest rates. China’s announcement of new policies that support economic recovery aims to strengthen the economy of the country, which is struggling with deflation and real estate recession.
General Performance of Cryptocurrencies
Bitcoin after the latest decisions of giant central banks $65,693 and Ethereum 
$2,652 Leading cryptocurrencies such as gained value. Positive reactions were also seen in the other top ten cryptocurrencies. It is observed that XRP is not static and shows signs of growth.
Expectations for XRP are Positive
Ryan Lee, chief analyst at Bitget Research, Ripple 
$0.627157He said that if positive progress is made in ‘s case against the SEC, XRP can reach $ 0.75 with a 30 percent increase. Technically, XRP has broken its strong trend line and is trading above critical moving averages.
In his comments for XRP, Lee said, “Most analysts and investors emphasize the possibility of an upward trend, which could attract more retail investors to the market and increase the price of XRP.” he said.
Possible Risks and Warnings
Bitget Research’s chief analyst warned that XRP could drop to $0.45 if Ripple’s legal situation worsens. The SEC has the right to appeal the decision, and such a move would signal that the legal battle could extend into 2025.
While XRP has increased by 5 percent in the last 24 hours, its price is at $ 0.644 according to CoinGecko data.
Investment Strategies
Lee stated that trading based on extreme predictions could be risky and also suggested that investors place stop-loss orders and make gradual investments instead of emotional decisions.
Recent fluctuations in the cryptocurrency market show that investors should be careful. The future of XRP will continue to be shaped depending on Ripple’s legal process with the SEC.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
