XRP Price Prediction – What Will Happen to Price if Ripple Wins SEC Lawsuit?
The XRP price has fallen by 7% in the past 24 hours, dropping to $0.452427 amid a generalized fall in the wider cryptocurrency market. Its current price means that it has also declined by 8% in the past week, yet the altcoin remains 26% up in the last 30 days, as investors increasingly come to expect a positive end to Ripple's legal battle with the SEC.
Given that XRP is still 86% down from its 2018 ATH of $3.40, and given that it failed to set a new ATH in the 2020-21 bull market (because of the legal case), there's a very strong chance that its price will rocket once its tussle with the SEC is resolved. Of course, the precise extent of a surge will depend on the state of the global economy, which continues to deppress investor sentiment with its combination of high inflation, rising rates and low (or declining) growth.
With the market as a whole down by 4% today, the XRP price has seen above-average losses, largely because it had enjoyed above-average gains prior to the current selloff (brought on mostly by pessimistic expectations surrounding an inflation report due today in the US).
At the very least, XRP's decline today may be disappointing, but it offers the chance to buy the altcoin at a discount before it begins to make serious gains. Its relative strength index (purple) is declining fast, meaning that it's oversold at the moment, yet its 30-day moving average (red) has recently overtaken its 200-day average (blue).
This apparent contradiction likely means that today's dive is a blip in a larger, longer term pattern of upwards movement. In other words, it's a bullish correction, with Ripple's case with the SEC the main driving force behind XRP's recent gains.
This case continues to produce encouraging signs of a
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