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XRP price has risen almost 2% in the last 24 hours to trade at $0.6131 at 5:20 am EST as trading volume fell 14%.
XRP price has jumped from $0.6012 to $0.6139 following recent speculation regarding the SEC's confidential meeting with XRP scheduled for November 30 and whether or not the two could resolve their legal dispute.
As part of the possible agreement between Ripple and the SEC, both parties will have to hold a closed-door meeting.
— Cointribune ES (@CointribuneEN) December 1, 2023
Doing so would mean ending a three-year legal battle between the two entities, which began when the US SEC accused Ripple and its officials of selling unregistered securities and misleading investors.
Ripple has scored some partial victories over the regulator this year, calling into question the crypto industry's optimism and the SEC's action. However, the legal dispute has not yet been resolved, hence the confidential meeting.
RUMOR
XRP RIPPLE VS SEC EN AGREEMENT
FEW HOURS BECAUSE RIPPLE HAS
A MEETING WITH THE SEC TODAY.– Ash crypto (@Ashcryptoreal) November 30, 2023
The meeting is part of the Sunshine Law Meetings and represents a closed-door session where Ripple and the SEC will discuss various topics, including the resolution of administrative proceedings, litigation-related matters, and injunctive relief.
The deal could shape the future of Ripple, XRP, and the broader crypto market.
XRP price forecast in light of possible deal between Ripple and SEC
The SEC-Ripple meeting could lay the groundwork for the future of the entire cryptocurrency industry, so it is no surprise that all eyes are on the regulator and the challenging cryptocurrency company.
Experts have speculated about the outcome for days and what it could mean for the price of XRP.
Some predictions suggest that a deal favoring Ripple could significantly increase the value of XRP, with short-term forecasts suggesting the coin could trade between $0.71 and $0.88.
Some technical indicators also suggest that an increase is coming, including the fact that the 4-hour candle has broken out of the Fibonacci zone and the daily trend line.
The coin has seen strong indicators mimicking a U-shaped chart pattern, which is also noted with gold and other major cryptocurrencies.
At the time of writing, Ripple's XRP is consolidating in the $0.58/$0.61 area. The short-term downtrend is broken and the support at $0.59 still manages to hold firm.
On the other hand, XRP still has solid short-term resistance at $0.62 to contend with. Still, bullish indicators suggest that it could soon surpass this level and potentially reach $0.7.
A significant part of the coin's short-term behavior will likely be decided by fundamental reasons, which could lead to two scenarios: one that takes XRP towards $0.7 and potentially $0.8, or the other that sees the coin fall. to $0.55 before recovering towards $0.65.
XRP price: promising alternative
One of the most promising XRP alternatives is BTCMTX, a token powered by the bitcoin Minetrix project.
The project aims to restore faith in cloud mining of bitcoin, the world's largest and oldest cryptocurrency.
Like other cloud mining projects, users can avoid purchasing expensive equipment or paying huge electricity bills. However, unlike other projects, it is completely decentralized and transparent.
What is #BitcoinMinetrix?bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Minetrix is a tokenized cloud mining platform that allows everyday people to mine $btc in a decentralized manner.
Solving a big problem by eliminating the risk of third-party cloud mining scams and putting control in the hands of users. pic.twitter.com/LOY6lpZMja
—Bitcoinminetrix (@bitcoinminetrix) September 25, 2023
This was done intentionally as the project aims to restore users' faith in cloud mining, which was previously damaged by numerous fraudulent or weak platforms that failed the community.
#BTCMTX offers a reliable cloud mining solution for everyone crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto enthusiasts.
Past concerns about high hardware costs and deceptive cloud mining scams have deterred many from entering the space.
This decentralized method guarantees a transparent and secure mining journey. pic.twitter.com/I600MjT8HE
—Bitcoinminetrix (@bitcoinminetrix) September 25, 2023
bitcoin Minetrix emphasizes that btc mined in 2013 has seen a 27,300% increase in value in 10 years, suggesting that mining the coin now could generate similar gains in another decade.
All users need to join is get their BTCMTX token, stake it, and receive credits used to mine btc.
Its pre-sale has attracted numerous like-minded investors, allowing it to raise $4.6 million at the time of writing, while its token price is $0.0119.
However, in less than 24 hours, the token will increase in price, so anyone looking to purchase it should act quickly. BTCMTX is available in exchange for eth or USDT, but can also be purchased via credit/debit card.
Related news:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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