The XRP price has increased by almost 20% in the last 24%. A possible ruling in the lawsuit against the SEC and the lawsuit against the crypto exchange Binance could have been the trigger. Ripple is battling its own battle with the SEC, and it seems that a Ripple win is soon imminent. Can XRP price reach 1$ in the coming weeks?
How did XRP Price Perform recently?
The XRP price has seen a massive increase in the last few days. After a rather meager performance of the last 3 to 4 weeks, the last few days have been extremely successful for the Ripple payment network token. The XRP price rose from $0.44 to $0.58. A few days earlier, the rate was just $0.38.
The increase, especially in the last 2 days, means that the XRP coin has gained almost 30% in value in the last 7 days. In the last 24 hours alone, the XRP coin has increased in value by almost 20%.
Will XRP Price continue to go up?
With the increases of the last 2 days, the trend of the XRP coin to see massive gains is increasing. Until 2 weeks ago, the XRP was still the problem child among the top 10 cryptocurrencies. After the US banking crisis, Bitcoin was able to post massive gains while XRP moved almost sideways.
On the one hand, there are hopes that the verdict in the legal dispute with the SEC could come in as little as a week or so. This increases the enthusiasm of many investors who hope that Ripple will be acquitted. This made the XRP price rise.
Furthermore, the CFTC (Commodity Futures Trade Commission) filed a lawsuit against the crypto exchange Binance and the CEO Changpeng Zhao (CZ) . There Bitcoin, Ether and Litecoin were referred to as “commodities”. According to investors, this should also apply to XRP.
Can XRP Price reach 1$ in the coming weeks?
The strong increases in the XRP price in the last few days give investors hope for a long-term trend. The XRP price could soon rise again to a value of 1 dollar.
It seems that the XRP coin is severely undervalued at the moment. This was due to continued pessimism and uncertainty due to the litigation. If an end is imminent, the price could continue to rise massively in the coming weeks. A guilty verdict threatens an implosion of the XRP course. However, the XRP price should also explode in the event of an acquittal.
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Source: https://cryptoticker.io/en/ripple-explodes-above-0-50-can-xrp-price-reach-1/