Today, we’re seeing an amusing shift in the sentiment around Ripple (XRP-X), with indications that positivity is on the rise. Money flow is also starting to turn positive.

depositphotos

When examining the sentiment metrics on The Paul Barron Network, the overall trade sentiment currently stands at 65, volume sentiment is holding at 61, and the overall average sentiment is at 55. This marks a major improvement for XRP, suggesting a potential for further gains.

The host said that a key event on the horizon is the upcoming SEC settlement discussion. According to the SEC’s Sunshine Act notice, a meeting is scheduled for July 18th. During this meeting, the SEC will address the institution and settlement of injunctive actions, the settlement of administrative proceedings, and the resolution of litigation claims. There’s speculation that the SEC might drop its case against Ripple, which could be a pivotal moment for XRP. July 18th is a crucial date to watch, as it may trigger major market movement.

Additionally, technical analysis indicates that XRP could break out above the 60-cent mark, with resistance around 62 cents. This period could mark a significant uptrend for XRP, driven by improving sentiment and the potential resolution of legal uncertainties.

Positive Signs for XRP as Institutional Crypto Gains Traction

Ripple CEO Brad Garlinghouse recently pointed out a positive sign for XRP. He added that having a reliable benchmark reference rate for institutional crypto products is crucial. The CME Group will introduce this benchmark on July 29th, which could greatly benefit XRP.

Garlinghouse believes that XRP is making smart moves to attract institutional investors. During the summer, many crypto projects prepare for major announcements in the fall. He hinted at news for XRP in October, possibly in Miami.

Ripple has been adjusting its investments, such as selling its stake in Bitstamp after Robinhood acquired the exchange for $200 million. Ripple also sold its stakes in MoneyGram and other companies, possibly gearing up for an exciting period ahead. There are also rumors that XRP might be relisted on Robinhood as early as August. This could be a big boost for XRP’s market presence.

Ripple has been adjusting its investments, such as selling its stake in Bitstamp after Robinhood acquired the exchange for $200 million. Ripple also sold its stakes in MoneyGram and other companies, possibly gearing up for an exciting period ahead. There are also rumors that XRP might be relisted on Robinhood as early as August. This could be a big boost for XRP’s market presence.

More By This Author: