For Ripple, the last few months have been quite the rollercoaster. Right now, there are a lot of rumours floating around the cryptocurrency industry about Blackrock and XRP. There have been a lot of stories in the cryptocurrency community lately about Blackrock filing for an XRP ETF. Anticipatedly, Blackrock’s prominence agitated market forces, causing XRP’s price to fluctuate.
The rumours, however, were promptly refuted, restricting XRP’s range between $0.643 and $0.731. Most cryptocurrency traders were intrigued by XRP because of its abrupt movement. To review their portfolio, many of them searched for an XRP price prediction.
The current relative strength indicator, or RSI, is 61.99, according to traders. The neutral position suggests that, under the current circumstances, XRP won’t be overbought or oversold.
In addition, the stochastic oscillator for XRP is paced at 54.24. Additionally, the oscillator is displaying a neutral posture, placing XRP in equilibrium. When compared to the RSI, the measure indicates a phase of consolidation for XRP.
Regarding the rumors, Blackrock has become more well-known in the marketplace. Ever since the company submitted a Bitcoin ETF application for the SEC’s approval, it has been closely monitored. There were also rumors a while back about Blackrock’s ETF registration being approved by the SEC.
Additionally, the whispers caused a little spike in Bitcoin’s price. It is no secret that these stories are being spread by some unscrupulous groups in an attempt to stir up controversy. The manipulation of prices in the Bitcoin market has already drawn the attention of the Securities and Exchange Commission.
Its public anti-BTC ETF position stems from the committee’s search for measures to temper it. Even for Bitcoin, obtaining approval would be difficult under this pretext. Regarding the recent rumors, analysts think the SEC’s decision to approve the Bitcoin ETF will remain unaffected. After much research and development, the SEC is probably going to stick to its guns and issue a decision.