XRP Price Prediction as Bullish Breakout Gains Momentum
XRP price prediction for Tuesday remains bullish above $0.4700 as the coin has already crossed and closed above the 50-day moving average. After falling for three consecutive sessions, the week began positively, and the XRP/USD pair started to recover their losses from the previous week.
On October 4, 2022, the XRP/USD token opened at $0.46206, reaching a low of $0.45156 and a high of $0.47424. It is trading at $0.46866, gaining +5.14% in the last 24 hours and 7.56% in the previous seven days.
CoinMarketCap currently ranks #6 with a live market cap of $23.78 billion. It has a maximum supply of 100,000,000,000 XRP coins and a circulating supply of 49,900,666,456 XRP coins.
The XRP/USD pair extended its gains on Tuesday, reaching near $0.4700 in response to recent comments from a former SEC director. Last week, on September 29, Analisa Torres, the district court judge in the Ripple vs. SEC case, ordered the release of documents written by William Hinman, the former director of the SEC's corporation finance division.
Ripple has stated that Hinman may have written in the hidden documents about the native token of the second largest cryptocurrency network, ETH, that it was not a security. The main reason for this statement is that Hinman stated the same thing in his speech at the Yahoo Finance All Markets Summit in June 2018.
The Ripple defense team may use Hinman's writing evidence to demonstrate that Ripple's XRP should not be treated as a security. Such market optimism in the aftermath of the Ripple vs. SEC case in favor of XRP added sparkle to the token's movement and pushed its prices higher.
Furthermore, XRP may be influenced by the comments of a former US Congressional Candidate, David Gokhshtein. He is also the founder of
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