XRP, the native token of Ripple, has been holding steady above $0.45 despite the recent market downturn that affected most cryptocurrencies. The coin had reached a high of $0.5 earlier this month, but faced a strong resistance that pushed it back to $0.43 on April 21. Since then, the coin has recovered slightly and is trading at $0.47 at the time of writing.

Many XRP investors are wondering if the coin will continue to rise or face another correction in the near future. Some analysts have even predicted that XRP could drop to $0.10, citing technical indicators and regulatory uncertainties. However, others have dismissed this scenario as unlikely and based on personal opinions rather than facts.

One of these analysts is Egrag, who shared his views on XRP in response to his friend’s forecast of a $0.10 price target. Egrag argued that XRP’s price movements are aligned with his predetermined Fibonacci targets, which are based on mathematical ratios derived from the Fibonacci sequence. He said that none of these targets support a drop to $0.10, and that such a prediction is more like a speculative guess than an analytical insight.

Egrag also noted that while a price correction to $0.10 is possible, the probability is very low and not as high as his friend suggests. He said that only a sudden regulatory enforcement could trigger such a drastic price drop for XRP, but that this is also unlikely given the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC).

Ripple, the company behind XRP, has been sued by the SEC for allegedly selling unregistered securities in the form of XRP tokens. The lawsuit has been going on since December 2020 and has caused some volatility and uncertainty for XRP investors. However, Ripple has been fighting back and has scored some victories in court, such as gaining access to the SEC’s internal documents and preventing the SEC from accessing Ripple’s legal advice.

The outcome of the lawsuit could have a significant impact on XRP’s future, as it could determine whether XRP is classified as a security or not. If XRP is deemed a security, it could face more restrictions and regulations in the US market, which could affect its liquidity and adoption. If XRP is deemed not a security, it could benefit from more clarity and freedom in the crypto space, which could boost its growth and innovation.

XRP is one of the oldest and most popular cryptocurrencies in the market today. It claims to be a fast, cheap, and scalable solution for cross-border payments powered by its native token XRP. It also supports various use cases such as remittances, micropayments, e-commerce, gaming, and decentralized finance (DeFi). XRP has a loyal and active community of supporters who believe in its potential and vision.