The XRP price has risen by nearly 5% in the past 24 hours, reaching $0.425152 after a week in which Ripple CEO Brad Garlinghouse predicted that the firm's lawsuit with the SEC will end in 2023.
The altcoin's current price represents a 10% gain in a week and a 20% rise in the last 30 days, pushed upwards by the market expectation that the aforementioned case has entered its end phase.Indeed, with all existing briefs having now been filed, its seems that XRP holders (as well as Ripple and the SEC) are mostly waiting for the judge to reach a decision.
And assuming that this is a favorable one for Ripple (i.e. one that finds XRP is NOT a security), then XRP could rally massively, surpassing its current all-time high of $3.40 and hitting new heights.XRP's chart points to some positive momentum.
Its relative strength index (purple) has risen very close to 70 in the past few days, an indicator that the optimism surrounding the Ripple case has injected some extra buying pressure into its market.At the same time, XRP's 30-day moving average (red) has turned up towards its 200-day (blue), something which signals a potential breakout, especially if the shorter term average overtakes its longer term counterpart.This is all happening pretty much because investors are feeling good about Ripple's prospects in its two-year case with the US securities regulator.Read more on cryptonews.com