XRP Price Prediction as XRP Spikes Green Despite Crypto Prices Crashing – New Rally Starting?

cryptonews.com:

The XRP price has risen by 1.5% in the past 24 hours, reaching $0.358245 as the altcoin recovers from yesterday's market-wide selloff. It remains down by 23% in the last 30 days, yet hopes surrounding Ripple's case with the SEC promise to push it up higher in the coming weeks, as this case case draws to a long-awaited close.

While Ripple's chances apparently took a blow earlier this month when LBRY lost a similar case against the SEC, its prospects have been boosted by its success in filing 14 amicus briefs before the November 18 deadline, while the regulator could manage only one. As such, and with Ripple also enjoying other small victories in the months leading up to now, there's every chance that it could gain a positive result, and that XRP could begin rising again.

XRP's movements earlier this month had meant that its relative strength index (purple) slipped below 30, indicating oversold conditions. However, its RSI has since recovered a little, and while it began sinking again a few days, this decline has been halted by today's jump, and the momentum indicator may begin rising again.

In terms of its 30-day moving average (red), this remains above its 200-day (blue) but appears to be sinking downwards. As such, it's hard to tell from a purely technical perspective as to whether XRP is due a rally anytime soon, with its indicators suggesting that some more pain may be in store.

This is an hypothesis supported by ongoing market events, with the FTX collapse continue to dampen investor sentiment. Add to that the ongoing global macroeconomic fallout from the Ukraine war and various recessions, and you have yourself a cocktail of negativity.

Still, XRP has enjoyed some good news in recent days. Most notably, the filing period