XRP Price Prediction – Here’s Why XRP Price Could Rally Soon
XRP has continued its climb today and is up nearly 3% in the last 24hrs having tested resistance levels at $0.50.
Amid bullish sentiment and belief that Ripple will win its two-year court case against the US Securities and Exchange Commission (SEC), XRP investors continue to wait for a mass breakout.
September is traditionally a bearish time for the crypto markets, but XRP closed with its best month of 2022.
With October usually a bullish month in crypto cycles, and the high-profile court case seemingly favoring XRP, the token could enjoy surging price action in the coming days and weeks.
As CryptoNews previously noted on Tuesday and Wednesday, the bulls appear to have taken hold of XRP with investors and traders pushing significant price action in the short term.
The token broke out of the symmetrical triangle and tested $0.50 late on Wednesday and while there was some price retraction, the coin found key support at $0.49 and now appears to break out further.
Should it sustain and break through $0.50, the next resistance level will be $0.56 and then $0.61, perhaps even reaching $0.66.
The volume is also extremely bullish for short-term price increases, at $2.27 billion, trailing only Bitcoin and Ethereum and the three main stablecoins (USDT, USDC, BUSD).
The main reason for XRP's continued success over the last month - where it has increased nearly 50% from early September - is continued good news in its court case against the SEC.
Many analysts and commentators believe XRP parent company Ripple is now on course to win the high-profile case.
The latest major news saw a US District Court Judge, Analisa Torres, allowing emails written by ex-SEC employee William Hinman to be used in their defense.
The emails from the senior
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