XRP Price Prediction as XRP Spikes Up 6% Suddenly – $1 Incoming?
The XRP price has gained strongly today, rising by as much as 6% after the SEC was denied its motion for an interlocutory appeal in its high-profile case with Ripple.
The coin has settled (for now) at a price of $0.533736, representing a 4.5% gain in 24 hours and a 6% jump in a week and a month, with the token also having risen by 57% since the beginning of the year.
Such increases put it in a good position to make further gains in the coming weeks, with the recent recovery enjoyed by the market at the start of the week potentially being the beginning of more positive conditions.
XRP's chart and indicators reflect its strength today, with its RSI (purple) rising to 60 in the past few houurs, indicating growing momentum but also leaving space for further gains.
Encouragingly, XRP's 30-day moving average (yellow) has stopped sliding and looks as though it could begin rising above its 200-day average (blue), a move which would indicate a possible breakout.
It's also positive to observe that the coin's support level (green) has held tightly even after Monday's market-wide rally fizzled out, with its long-term support of around $0.50 likely to hold for the near and more distant future.
As noted above, XRP has rallied for one simple reason: Judge Analisa Torres has denied the SEC's motion for an interlocutory appeal against her ruling from July in its case against Ripple.
The request for an appeal took issue with Torres' earlier ruling that programmatic sales of XRP on exchanges did not amount to sales of securities.
However, Torres has firmly stood by her earlier ruling, meaning that the SEC could be forced to drop its objections to the ruling entirely.
This is clearly a big win for Ripple and for XRP, which is perhaps now in a
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