In an adjacent development, Moon Lambo notes that the Ripple on September 9 and a month later was almost the same at $0.52. Due to this, the analyst adds that the market does not care about the SEC’s appealXRP News: Ripple vs. SEC Lawsuit (Update)
The US Securities and Exchange Commission (SEC) filed the “notice of appeals” on October 2, as a result, XRP price crashed 9.80%. The maj
or development since then is Ripple (XRP) community filing a petition in disagreement to the SEC’s decision to appeal the July 2023 and August 2024 ruling. This petition has received 8,500 signatures since its filing on October 3.Expert Analyst Predicts XRP Price to Hit $121 This Bull CycleAmonyx, a popular analyst posted on X to his 100K followers his take on what XRP price could do next. In his analysis, Amonyx showed how Ripple price is nearing the end of a 6.8-year downtrend and a breakout could trigger a volatile rally.
The expert also takes cues from the 2017 bull run. In this cycle Ripple price shot up 110,466% from $0.003 to $3.31 after four-year consolidation. Considering the 6.8-year downtrend that has been persistent since then, Amonyx hints that a similar uptrend could ensue for Ripple and could propel XRP to $121.For XRP to reach this target of $121, it would need to inflate by 22,730% from the current price of $0.530With the short-term outlook bearish, investors need to be patient to get better buying opportunities. Furthermore, Bitcoin also looks ready to slide lower after a failed attempt to push through the $64K hurdle. From a long-term perspective, however, the bullish scenario is preserved unless BTC fails to hold $55K.
