XRP Price Prediction as Bulls Hold $0.70 Level – Where is the Next XRP Target?
The XRP price has dipped by 0.5% in the past 24 hours, although its slide to $0.745059 still means it's up by 56% in the last seven days.
XRP continues to ride strong momentum caused by Ripple's positive result in its case with the SEC, with the altcoin also up by more than 100% in the past 12 months.
Given XRP's current strength, and given that it had been undervalued for so long because of the SEC case, it's likely that the cryptocurrency will continue to witness gains over the coming weeks.
And with Ripple now likely to be in a better position to continue growing its business, the long-term future could really see XRP become the third-biggest coin in the market, behind Bitcoin and Ethereum.
XRP's indicators continue to signal considerable strength, with the coin's relative strength index (purple) still remaining above 60 despite a dip since the weekend.
More impressively, XRP's 30-day moving average (yellow) continues to rise steeply above its 200-day average (blue), showing no signs that it will be running out of steam anytime soon.
Likewise, the altcoin's support level (green) is also rising, meaning that XRP has consolidated around a much higher base level, enabling to launch new rallies from ever-higher starting positions.
In purely technical terms, XRP's current position looks promisingly strong, yet its fundamental position is perhaps even stronger, given last week's developments.
As mentioned above, Ripple received a largely positive ruling in its case with the SEC, with Judge Analisa Torres finding that the firm's non-institutional sales of XRP (e.g. its sales on exchanges) did not amount to the offering of unregistered securities.
This has enabled the vast majority of US-serving exchanges to relist XRP, providing
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