XRP Price Prediction as $2 Billion Trading Volume Comes In – Can XRP Hit $1 This Week?

cryptonews.com:

The XRP price has dipped today to $0.521650, representing a drop of 1% as the cryptocurrency market as a whole also falls in the past 24 hours.

However, XRP remains up by 3% in a week and by 22% in the last 30 days, with the altcoin also seeing its 24-hour trading volume remain close to the $2 billion level.

XRP's recent performance stands in contrast to much of the wider market, which has been badly affected by the SEC's legal actions against Coinbase and Binance.

But with observers expecting a Ripple victory in its own case against the securities regulator, XRP could be on the brink of much bigger gains soon.

XRP's indicators are in a very positive position, with the altcoin actually up a little in the past hour, despite the 24-hour dip.

XRP's relative strength index (purple) has crept over 50 in the past few days, as it recovers from the market-wide impact of the SEC's latest enforcement actions.

This indicates some recovering momentum, as does XRP's 30-day moving average (yellow), which still remains elevated above its 200-day average (blue) and therefore suggests that the altcoin is likelier to continue rising in the near term.

Even more encouragingly, XRP's support level (green) has also been rising since late May, forming a pennant with its resistance level (red) that may result in a breakout.

And as noted above, there's every reason to believe that XRP could enjoy a major breakout in the not-too-distant future.

The main reason for this is that the Ripple-SEC case is expected to conclude soon, with most experts within the industry expecting the result to be a largely positive one for Ripple.

There are numerous recent developments that strengthen the argument that Ripple will secure a more or less favorable judgment,