Ripple XRP, the token used by Ripple to pay for its services, is currently performing the best amongst the 10 top projects in terms of market capitalization. XRP, however, has risen by 4.7% during the same period. Bitcoin and Ethereum fell by 2.5% each and by 2.7% respectively. XRP has also seen a 14.1% increase in the past week. XRP’s 14-day chart and the monthly chart continue to show a red glow, with a fall of 2.6% and 3%, respectively.
Also Read: Ripple: How High Can XRP Go If Ethereum Hits $10,000?
It’s not clear why XRP has been rallying. The rally in XRP could be due to investors anticipating the SEC Ripple litigation.
Ripple XRP can it reclaim $0.60 on the weekend?
Researchers at CoinCodex believe that XRP may reach $0.48 by Sunday, 14 July 2024. It predicts that on July 16, 2020, XRP could reach $0.61. But it will then correct to $0.52.
Also Read: Ripple (XRP) Eyeing Price Above $10 in 2025, Here’s How
Changelly CoinCodex predicts XRP will hit $0.572208 in 2024, but a more optimistic vantage point is portrayed by Changelly believes XRP’s price will remain above $0.50 until the end of the month but that it won’t surpass the $0.60 level anytime soon.
Also Read: Ripple: Analyst Says XRP is an Asset That Can Replace the US Dollar
Ripple’s legal battle with the SEC has been a key factor in preventing XRP price increases. Last year, a district court found in favor the fintech firm. The case is now pending with the high court. It’s unlikely that XRP would take significant action on its price before the trial is finished. Ripple’s case could lead to a rapid increase in XRP price and adoption.
Also Read: XRP Recognition: A Deep Dive into Its Impact on DeFi
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Source: watcher.guru