In the past 24 hours, Ripple (XRP) has managed to stabilize above the $2.2 level. As the legal case between Ripple and the U.S. Securities and Exchange Commission (SEC) is nearing its conclusion, analysts suggest that holding Ripple may be smarter than selling it. Here are five reasons for this recommendation. 1. Imminent Conclusion of the Legal Case: The long-standing legal dispute between Ripple and SEC has reached its final stages with both parties agreeing to halt the review process. Analysts believe that if the outcome favors Ripple, its legal position will be strengthened, enabling wider acceptance by financial institutions and relisting on major U.S. exchanges. 2. Expansion of Ripple’s Use Cases: Ripple’s network is experiencing increased adoption, including the launch of the new stablecoin RLUSD and innovations in smart contracts. RLUSD, pegged to the U.S. dollar, is available on both the Ripple and Ethereum (ETH) networks, enhancing Ripple’s interoperability with other blockchains. Additionally, a new feature called Hooks has been introduced in the XRPL testnet, opening new gateways for decentralized applications (dApps). 3. Increasing Demand for Cross-Border Payments: Ripple’s primary use case of fast and low-cost international payments has regained attention, especially in situations where traditional systems face high costs and regulatory challenges. In this regard, the International Monetary Fund recently highlighted the role of blockchain technology in financial inclusion, indirectly benefiting Ripple. 4. Growing Institutional Interest: Despite some retail investors’ doubts, data shows that financial institutions have been accumulating Ripple in the past two quarters. Recent partnerships with Middle Eastern banks and pilot programs in Europe indicate a growing strategic asset view of Ripple. 5. Technical Analysis: Long-Term Price Target of $3.20: Currently, Ripple’s price is stabilizing around $2.2, and its weekly chart indicates a potential uptrend. The $2.14 level is considered a key support, and if it surpasses the $3.09 resistance, reaching the $3.20 target is possible. The Relative Strength Index (RSI) at 52.4 suggests a decrease in selling pressure and the potential for a return to an uptrend in the coming weeks. Visit the digital currencies’ real-time price page to monitor all token and cryptocurrency prices live.
