In the past 24 hours, the price of XRP has risen by 5% following the decision of the judge presiding over Ripple’s case with the SEC to deny the regulator’s request to seal important documents. Currently, XRP is trading at 0.4441 dollars. Although the altcoin has been down 13% in the past 30 days, today’s increase is reversing the trend of losses suffered recently
.
XRP Price Prediction 2023-2024
Thanks to access the documents related to William Hinman’s 2018 speech, obtained by the court, Ripple could obtain a positive summary judgment or a favorable agreement. In this case, XRP could become one of the main performing tokens of the year, recording possible increases in the coming months. Meanwhile, Bitcoin sees a drop of 0.60%, trading below 27,000 dollars to 26,850 dollars, while the price of XRP remains
stable in positive territory.
The recent increase in the price of XRP could be attributed to a delayed reaction to the past undervaluation of the altcoin, which seemed to have been oversold in recent weeks. XRP’s relative strength index reached nearly 90 this morning before falling back, but the momentum remains above 50, increasing the likelihood of further gains. The 30-day moving average has yet to exceed the 200-day level and suggests that XRP may be close to an explosive rally. With the Ripple-SEC case close to conclusion, investors are optimistic about a possible and significant increase in the asset. Judge Analisa Torres’s recent decision to deny the SEC’s motion to seal the Hinman documents could lead Ripple to exit the case with positive results. Experts believe that these documents may prove that XRP should not be considered a security, such as Ethereum. A summary judgment could be imminent, and if favorable to Ripple, it could lead to a significant rebound in the price of XRP. At the moment, the price is around 0.445 dollars, but it is possible that it could easily return to 1 dollar, a price that it has not seen since November 2021. In addition, the price of XRP could even exceed $1 in the months following the resolution of the case. If the cryptocurrency market enters a further bullish phase when the case ends, XRP could test its all-time high of 3.40 dollars set in January 2018. Ultimately, the court verdict could result in a significant increase in the price of XRP
.