Can XRP Reach $1? Bullish Pennant Pattern Indicates Possible Surge

cryptonews.com:

The price of XRP has gained by 8% in the past 24 hours, reaching $0.6495 as the cryptocurrency market falls by 0.5% today.

XRP is now up by 5.5% in a week and by 35% in the last 30 days, although the altcoin has actually lost 8% in a year.

This annual lost is largely because the market is still waiting for the SEC and Ripple to agree a final settlement in their long-running case.

However, the SEC is meeting today to discuss ongoing legal cases, with some XRP holders hoping that they will discuss Ripple, which could be good news for the coin’s price.

XRP’s chart continues to look bullish, with its indicators showing some real momentum right now.

Its relative strength index (purple) jumped from 45 to 75 yesterday, and despite a brief dip it’s now rising again.

Likewise, its 30-day average (orange) is climbing steeply beyond its 200-day (blue), providing a clear sign of a breakout.

XRP’s volume has also ballooned, rising from $1 billion only a few days ago to just over $3 billion, as of writing.

Much of this likely comes from whales, with data showing a number of big transfers – off exchanges – in the past couple of days.