XRP Price Prediction as $600 Million Trading Volume Keeps XRP Above $0.47 – Are Whales Accumulating?

cryptonews.com:

The XRP price has remained flat in the past 24 hours, with its current level of $0.47323 representing a small 1% dip in the last seven days.

This slight fall comes after a final ruling in LBRY's case with the SEC, with the presiding judge not issuing a ruling on whether secondary sales of LBC tokens amount to the offering of securities.

While it's not an especially positive result for LBRY, this ruling doesn't necessarily have much bearing on Ripple's own case with the SEC, which is being based around different arguments and defenses.

And with observers suspecting that Ripple still has a good chance of securing a favorable outcome, XRP's current price may offer a significant discount on its future level.

XRP's chart suggests that it could be about to rally again, with its indicators all beginning to point upwards.

For one, its relative strength index (purple) has risen above 50 today after spending much of yesterday falling, a sign that it may be regaining momentum.

Added to this is XRP's 30-day moving average (yellow), which after a week of declines is now sloping upwards and looks on course to overtake its 200-day average (blue) in the next one or two weeks.

Supporting this positive view is the altcoin's support level (green), which has seen a series of increases in the past week or so, suggesting that XRP may have fallen as far as it can for now.

Also keeping XRP afloat is its trading volume, which has risen above $600 million again, after spending much of the weekend below $400 million.

Again, this signals some gradually recovering momentum, with XRP likely to be boosted in the medium-term by positive news regarding the Ripple-SEC case.

Regarding this case, it's interesting to note that XRP's price hasn't really been affected