XRP Price Prediction as Lawsuit to End Favourably – Can XRP Hit $10 in 2023?
The XRP price has dropped by 1.5% in the past 24 hours, sliding to $0.461331 on the news that Ripple and the SEC have been given a one-week extension to file motions for summary judgment.
XRP's current level means it has gained by 8% in a week and by 2% in the last 30 days, with the altcoin also up by 35% since the beginning of the year.
These gains have followed from the increasingly popular expectation that the Ripple-SEC case will end with an outcome that's favourable to Ripple, with both parties now moving for the judge to issue a ruling.
And if this ruling is indeed positive, XRP will almost certainly witness a massive rally in the following weeks, potentially making it the best-performing of any major cryptocurrency this year.
XRP's chart is in a mixed position at the moment, with its indicators generally moving in contradictory directions.
Its relative strength index (purple) has risen today from an oversold position below 30, suggesting an increase in momentum that has weakened a little in the past couple of hours.
On the other hand, its 30-day moving average (yellow) has begun sliding towards its 200-day average (blue), implying that the coin's price could be in for a fall over the next few days.
However, XRP's medium-term support level (green) has increased modestly over the past few days, so it's possible that any near-term slip may be quiclly reversed.
Moving away from technicals, the fundamental picture for XRP continues to look encouraging, with the SEC and Ripple now working on filing motions for the case to be concluded with a summary judgment.
The deadline for these is June 13, meaning that the case could reach its long-awaited conclusion a few weeks after this date, after the judge has had some time to consider
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