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Pro-XRP Lawyer Debunks FUD Over Ripple Dumping XRP, Price To Hit $1?

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12 months ago

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In a compelling narrative unfolding within the global crypto space, the renowned pro-XRP lawyer Bill Morgan once again shared his insights on X, dispelling the fog surrounding Ripple’s significant XRP dumps in the market. In a post published today, May 6, Morgan brought crucial attention to the FUD permeating the XRP community due to Ripple’s substantial dumps, dismissing it as ‘nonsense.’

This declaration seems to have swiftly gained significant momentum, as amidst a price correction observed by XRP over the past month, the token has not only recovered but also recorded impressive daily and weekly gains. This has painted a promising picture for XRP ahead.

XRP Lawyer Bill Morgan Says FUD Keeps Spreading Like ‘Weeds’

As per Morgan’s observations, recent discussions within the XRP community showcase that worries have escalated about the spread of fear, uncertainty, and doubt (FUD) regarding Ripple’s actions and intentions towards XRP. This FUD primarily stems from the perception that Ripple is ‘dumping’ XRP, i.e., selling large quantities of the token, which some believe could negatively impact its value. However, Morgan dismisses this as baseless, arguing that Ripple’s actions are part of a strategic plan to increase XRP’s utility and adoption.

Despite Morgan’s best efforts to counter these concerns with evidence-based arguments, the widespread perpetuation of such misinformation continues to plague the broader crypto market. Concerning this, Morgan also reposted a video wherein Ripple execs publicly displayed undeterred devotion to their native token, XRP, illustrating signs that rug-pulling the token now would not meet the community’s long-term goals, and was never an option.

Meanwhile, amidst the pro-XRP lawyer’s optimistic remarks on the Ripple-backed token, its market charts at press time illustrated a positive momentum, falling in line with Morgan’s comments.

XRP Price Soars, $1 Looms?

As of writing, the XRP token has gained 2.38% in the past 24 hours and is currently trading at $0.5421. The token’s weekly charts illustrated a 7.35% upswing, further piquing substantial investor attention.

In the interim, a renowned crypto analyst, Egrag Crypto, further spotlighted vital insights into the token’s price movements. The XRP SSMP (Structural, Sentiment, Macro, and Psychological) model, ranging for 300 days, facilitated four crucial stages for the Ripple-backed token.

Structural Formation

According to the analyst, this aspect focuses on the key support and resistance levels of XRP, $0.53 and $0.58, with recent data illustrating a strong base formation. This hints at a potential bullish run, a period of sustained price increase, starting at $0.55 – $0.58, Egrag stated. A bullish run could see the token’s value increase significantly, potentially reaching or even surpassing the $1 mark.

Sentiment Status

Meanwhile, $0.63 – $0.70 marks a time wherein the market witnesses prominent sentiment shifts. ‘Monitoring this range and volume provides insights for seizing price opportunities and managing risk,’ the analyst added.

MACRO Range

Whereas, $0.75 – $0.85 potentially signals the start of a bull run. If XRP manages to close above it weekly, and monthly, the era below $1 price for XRP will cease to exist. This could be a significant turning point for the token, potentially leading to a period of sustained growth and increased investor confidence, the analyst points.

Also Read: XRP Lawsuit: Whale Moves 28M Coins Ahead SEC’s Reply Brief Deadline 

Psychological Battlefield

Lastly, the $0.93-$1 range is where market sentiments and trends clash, with investors grappling with fear, greed, anxiety, and overconfidence. Nonetheless, a monthly close above it ‘could mean saying goodbye forever to prices below $1,’ Egrag claims.

Also Read: Tiger Brokers Debut Crypto Trading Platform, Lauds Support For BTC, ETH, & Others

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Canary Capital Files For Staked Tron ETF

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3 hours ago

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April 18, 2025

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American asset management company Canary Capital has taken a new leap with a new filing for a staked Tron ETF product. Known as the pioneer of some of the most renowned altcoin ETF products, this new Tron ETF has further placed the firm at the forefront of the exchange-traded fund drive.

The Canary Capital Staked Tron ETF

According to the prospectus released by the firm, the new product is dubbed the Canary Staked TRX ETF. The firm is yet to reveal the trading platform the product will trade on, however, it confirms it will provide exposure to the price of Tron.

Based on the pricing data offered by Coindesk Indices, Canary Capital said it will rely on this to establish the Net Asset Value (NAV) for the product. This latest filing comes barely a month after the asset manager filed for Pengu ETF with the US Securities and Exchange Commission (SEC).

This is a breaking news, please check back for updates!!!

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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XRP Price History Signals July As The Next Bullish Month

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5 hours ago

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April 18, 2025

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Based on historical data, July could be the next bullish month for the XRP price, which continues to consolidate amid this crypto market downtrend. Despite the market downturn, crypto analysts like CasiTrades are confident that the altcoin could still reach a new all-time high (ATH) in this market cycle.

Historical Data Points To July Being The Next Bullish Month For The XRP Price

Cryptorank data shows that July could be the next bullish month for the XRP price. This is based on the fact that the altcoin has recorded significant gains in each of the last five Julys.

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Unlike July, April to June have been mixed for XRP over the last five years. For April, the last three out of five months have been bearish for the altcoin, although it recorded a 174% gain in April 2021.

For May, three out of the last five months have been bearish for the XRP price, although it recorded meagre gains in May 2023 and 2024. Meanwhile, June has been completely bearish for the altcoin, as it recorded monthly losses in the last five months.

It is worth mentioning that four out of the five monthly gains for XRP in July have been double-digit gains. As such, Ripple’s native crypto could again record double-digit gains this coming July.

Interestingly, crypto analyst Egrag Crypto predicted that XRP could reach double digits by its July 21 cycle peak. He alluded to the altcoin’s previous bull runs as to why July could mark this cycle’s peak. The analyst believes the Ripple price could reach $27 by then.

Analysts Argue XRP’s Consolidation Could End Soon

Amid this historical data, crypto analysts Dark Defender and CasiTrades have suggested that the XRP price consolidation could end soon. In an X post, Dark Defender stated that the altcoin’s consolidation is nearing an end and that he believes this is the final consolidation of the monthly structure.

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Once this consolidation is done, the crypto analyst remarked that market participants can expect the Wave 5, which will send Ripple’s native crypto to new highs. He highlighted $2.22 and $2.30 as the major resistances to watch out for, while $1.88 and $1.63 are the major support levels. Meanwhile, the targets on this Wave 5 up are $3.75 and $5.85, which will mark a new ATH for the altcoin.

As CoinGape reported, crypto analyst CasiTrades also predicted that the XRP price could soon reach $6 as Wave 2 correction nears its end. The analyst also raised the possibility of the altcoin rallying to as high as $9.50 and $12 if it reaches the 2.618 and 3.618 Fibonacci extension levels, respectively.

However, there is still the possibility of the XRP price dropping below the $2 level before it rallies to new highs. Egrag Crypto warned that Ripple’s native crypto could still drop to as low as $1.4 in the event of a major liquidation.

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Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ethereum ETFs Record $32M Weekly Outflow; ETH Price Crash To $1.1K Imminent?

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9 hours ago

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April 18, 2025

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The ETH price’s bearish sentiment since January 2025 has taken a toll on investor confidence, with Ethereum ETFs witnessing significant outflows. As ETH’s value continues to plummet, investors increasingly withdraw their funds. With Ethereum exchange-traded funds recording a massive $32 million in weekly outflows, analysts caution against a potential downtrend.

As Ethereum lingers below the $2,000 mark for weeks, market experts and traders are bracing for a potential further decline to $1,100. Let’s dive deeper into the reasons behind the significant outflows from Ethereum ETFs and its potential impact on ETH price.

Ethereum ETFs Record $32M Weekly Outflows: What’s Happening?

According to SoSoValue, Ethereum ETFs experienced increasing outflows over the past week, driven by the overarching negative market trend. Last week, the ETFs saw a total net outflow of $32.17 million, pushing the month’s outflows to $170.99 million.

In addition, the Ethereum exchange-traded funds experienced an unusual day of neutral flows yesterday, with neither net inflows nor outflows reported. Analyst Ali Martinez shed light on the increasing whale activity over the past week. According to his X post, ETH whales have offloaded 143,000 tokens last week. 

Significantly, this negative sentiment could be attributed to the ETH price’s bearish trend which began in January. Ethereum, which stood high-headed above $3,500 at the onset of 2025, started plummeting to reach a severe low of $1,500 in April. This steady downtrend has caused a stir in the market, with traders showing less interest towards the altcoin.

Is ETH Price Poised for a Crash?

Growing pessimism surrounding Ethereum ETFs has led analysts to warn the community that ETH’s price may extend its downward trajectory. For instance, analyst Altcoin Gordon shared a bearish forecast for ETH price, predicting that the token would further drop to $1,100. However, as per CoinGape’s Ethereum price prediction, ETH could destabilize around a minimum of $1,588 in 2025.

As of press time, ETH is valued at $1,592, down by a marginal 0.20% in a day. Despite a 2.3% surge over the past seven days, ETH has seen a massive dip of 21% in a month. This negative vibe is also reflected on the traders’ sentiment, with the 24-hour trading volume decreasing by 23% to reach $10.5 billion.

Significantly, the Ethereum transaction fees’ recent crash to a five-year low has also contributed to the overall bearish sentiment.

Ethereum Bulls Remain Optimistic

Despite these bearish predictions and negative Ethereum ETF trend, bulls remain optimistic about the ETH price. Analysts like Crypto Rover and CryptoGoos shared their bullish outlooks on Ethereum, invoking investors’ enthusiasm.

Ethereum ETFs Record $32M Weekly Outflow; ETH Price Crash To $1.1K Imminent?Ethereum ETFs Record $32M Weekly Outflow; ETH Price Crash To $1.1K Imminent?

According to CryptoGoos, ETH is expected to repeat history to surge beyond $2,800 in the near future. Meanwhile, market expert Crypto Rover projected the ETH price’s potential journey to an ambitious $10,000. However, it needs to be seen whether ETH can break through its current resistance levels and achieve these lofty targets.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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